Accounting – 5.1 Sole traders | e-Consult
5.1 Sole traders (1 questions)
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Answer 2
Service Solutions
Income Statement
For the year ended 31 December 2023
| Fees Earned | £120,000 |
| Direct Costs | £15,000 |
| Gross Profit | £105,000 |
| Administrative Costs | £25,000 |
| Other Expenses | £5,000 |
| Net Profit | £75,000 |