& multicolumn(1)(|c|)( E ) Gross profit & 16,000 Motor vehicle expense & 1,000 Rent expense & 3,000 Salaries & 4,000 Insurance & 2,000 Interest expense & 1,000 Fixtures and & 4,000 Fittings & What is the entity's Net Profit for the period? E9,000 E2,000 E12,000 E5,000 E6,000 E1,000

## Step 1In order to find net profit, all the expenses presented in the table needs to be summed up, then this sum is subtracted from gross profit which is also given in the table.## Step 2 Add up all the expenses which includes: Motor vehicle expense, Rent expense, Salaries, Insurance, Interest expense, and the cost of fixtures and fittings given as and respectively. ### ## Step 3After finding the total expense, it's to subtract total expense from gross profit to result in the Entity's Net Profit. ### # Calculation ## Step 1Find the sum of all the given expenses:### ## Step 2Subtract the total expense from Gross Profit to get the Net Profit:###