WAEC Commerce 1998 Question 92

XYZ Ltd's total sales was N100,000. It had opening stock of N20,000 and closing stock of N22,000. It bought goods worth N80,000 and paid N2,000 for rent.
XYZ Ltd's Net Profit is

1. A.N58,000.00
2. B.N38,000.00
3. C.N24,000.00
4. D.N22,000.00
5. E.N20,000.00