Use the following information to answer the given question
\(\begin{array}{c|c} & \text{1/1/86} & \text{31/12/86} \\ & N & N \\ \hline creditors & 5,000 & 8,000 \\ stock & 1,200 & 1,100 \\ \text{Mark-up} & \text{25%} & \\ \text{Cash paid to creditors} & N7,000 & \end{array}\)
Gross profit is
N2,800
N2,525
N2,500
N2,000
N1,750
Correct answer is B
No explanation has been provided for this answer.