Bobbie's Business Made Revenue of £280 500 in the 20X1

Multiple Choice

Bobbie's business made revenue of £280 500 in the 20X1 financial year.2% by value of the goods sold were returned.He allowed £2280 to his customers for early payment.Purchases were recorded at a total of £159 590.Bobbie also paid import duties of £3604, and received discounts for early settlement of £1580.Opening inventory was £10 200 and closing inventory was £12 200.Expenses were £50 600 and drawings were £17 000. What was Bobbie's net profit for the 20X1 financial year?

A) £62 396
B) £63 796
C) £45 396
D) £73 616