The following information relates to the business of KK Trader for the year ended 31/12/2022.

Opening stock                                                   4,000,000

Debtors                                                              1,200,000

Creditors                                                             1,000,000

Bank                                                                   2,600,000

Cash                                                                  1,800,000

Closing Stock                                                    3,200,000

Sales                                                                 8,900,000

Purchases                                                          5,700,000

Wages                                                                   100,000

Purchases Returns                                                 200,000

Expenses                                                            1,400,000

Required:

Calculate the following:

1. Net Purchases

2. Cost of Goods available for sale

3. Cost of Sales      

4. Gross Profit

5. Net Profit

6. Rate of Stock Turnover and interpret the results

7. Mark up and interpret the results

8. Margin and interpret the results