sales less sales returns equals net sales, opening inventory add purchases less closing inventory equals cost of sales, purchases add carriage in less purchase returns equals net purchases, sales less cost of sales equals gross profit, gross profit add other income less expenses equals profit, current assets less current liabilities equals net current assets, opening capital add profit less drawings equals closing capital, cost less accumulated depreciation equals carrying amount, non current assets add net current assets less non current liabilities equals net assets,

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