Green Ltd. was established on 1st August, 2013 and received the Certificate of Commencement of business on 1st November, 2013. The company bought the business of Purple & Co. with effect from 1st April, 2013. From the following information for the year ended on 31st March, 2014, find out the profit available for dividends.
(i) Sales for the year ₹ 12,00,000 out of which sales upto 1st August, 2013 was ₹ 5,00,000.
(ii) Gross Profit for the year was ₹ 3,60,000.
(iii) Expenses shown in the Statement of Profit and Loss were as under:

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Salaries Rent Audit fees Directors' fees Interest on Debenture Commission. Depreciation. General Expenses Bad Debts (1,000 prior to incorporation) 24,000 12,000 12,000 9,600 10,000 19,200 51,000 16,800 3,000