Accounting · Financial Statements

Majid is a sole trader. He has the following extract from his trial balance at the year end: Account Name | Debit ()∣Credit() Sales | — | 28,250 Purchases | 13,670 | — Opening inventory | 4,500 | — Sales returns | 1,200 | — Purchase returns | — | 1,840 Administrative expenses | 2,800 | — Other income | — | 3,120 Closing inventory has been valued at $8,500. What amount will be shown in Majid's statement of profit or loss for gross profit?