1. Following is the profit and loss account of a limited company Opening Stock Purchases Gross profit c/d 10,000 Sales 50,000 Closing Stock 50,000 90,000 20,000 110,000 110,000 Administration Expenses...

Extracted text: 1. Following is the profit and loss account of a limited company Opening Stock Purchases Gross profit c/d 10,000 Sales 50,000 Closing Stock 50,000 90,000 20,000 110,000 110,000 Administration Expenses Selling and Distribution Expenses Gross profit b/d 6,000 4,000 50,000 Net Profit 40,000 50,000 50,000 Calculate: Gross profit ratio, Net profit ratio