Rose Ltd was set up on 1 May 20X8 with opening capital of £1,000. During the month of May, it entered into the following transactions:
Purchases of goods for resale, on credit £12,100
Payments to credit suppliers £ 8,400
Sales on credit £16,200
Sales in cash £ 1,300
Receipts from credit customers £ 3,200
Non-current assets purchased for cash £ 1,500
Depreciation £ 100
Other expenses, all paid in cash £ 800
What is the net profit earned by Rose Ltd in the month of May 20X8?
