Balance sheet - how do I get the net profit?

[anna2011]

Fixed Assets + Working Capital - Long term liabilities = Net Asset

Financed by
Capital + Net profit - Drawings = Net Assets ?

I understood that both formulas need to have the same results, but how do I calculate the Net profit?

[dr b]

Do you have an income statement?

[DTCwordfan]

you need your income statement.....

[sherrardk]

If this is a theoretical thing, then if you have capital, drawings and a net asset figure (from our first equation thing) you don't need the net profit figure. Surely it would be the difference between capital - drawings = net profit that would equal net profit? (Its late, so I could very probably be wrong!)

[DTCwordfan]

Income Sales (minus VAT/excise duties) for net sales then minus cost of goods = Gross Margin
Gross Margin minus Variable costs minus Fixed Costs equals Profit before depreciation and tax.

Then take of your depreciation, calculate your tax, deduct that....net income after tax. Add back depreciation for your cash flow.

[DTCwordfan]

Is this school or real?

[anna2011]

Fixed Assets total 2,750

Current Assets total 1,910

Current Liabilities total 900

Financed by

Capital 2,100
Net Profit ?

Drawings 900

[sherrardk]

It's school isn't it - far too late for me, but isn't it a simple sum?

[boxtops]

This sounds like homework to me

[anna2011]

Well it's not a homework, but it is for a subject at Uni and I'm just trying to figure out how it works as I have never done this before.
But thanks anyway for your answers!

[dr b]

fixed assets = 2750
net WC = 1010
no long term liabilities?

so net assets = 3750

so 2100 + x - 900 = 3750

[sherrardk]

Well, it is sort of homework. If I wasnt on my phone (and it wasn't do late) I would try to figure it out. Good luck with it all.

[dr b]

net assets = 3760, that is.