Calculate the amount of gross profit and operating profit on the basis of the following balances ext...........

Accountancy (11th) Chapter-9 Financial Statements-1

Calculate the amount of gross profit and operating profit on the basis of the following balances extracted from the books of M/s Rajiv and Sons for the year ended March 31, 2017. (5 marks)

	Rs
Opening stock	50,000
Net sales	11,00,000
Net purchases	6,00,000
Direct expenses	60,000
Administration expenses	45,000
Selling and distribution expenses	65,000
Loss due to fire	20,000
Closing stock	70,000