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Use the following information to answer the given questio...

Use the following information to answer the given question:


NStock at 1st Jan. 19016,500Stock at 31st Dec. 19015,500Creditors at 1st Jan. 19014,000Creditors at 31st December 19015,000cash paid for goods during the year20,000Gross profit25% on costAdministrative and selling expenses2,750


What is the amount charged in the profit and loss account?

A.

6,500

B.

N5,500

C.

N5,000

D.

N4,000

E.

N2,750

Correct answer is E

No explanation has been provided for this answer.