Use the information below to answer question
Incomplete Record (Extract)
Sales………………………………..N10,600
Rent………………………N200
Depreciation of vehicle (cost N5000) 10%
Gross profit margin is 20%
A. N4 800
B. N8 480
C. N2 320
D. N 9 900
Correct Answer:
Option B – N8 480
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