SECTION A : Answer ALL four (4) questions from this section. Each question carries 10 marks. Start the answer to each question on a new page. 1 . Balances on the trial balance of Charlotte Sdn.Bhd. are as follows: RM Sales revenue 600,000 Purchases 240,000 Opening inventory 24,000 Return inward 1,500 Return outward 500 Rental expenses 24,000 Administrative expenses 105,000 Carriage outwards 8,000 Interest expenses 5,300 The closing inventory count reveals inventory of RM15,500 Required: Based upon the information above, determine the gross profit and net profit for the year. State all the calculations to support your answer. [Total: 10 Marks] Page 2 of 8