Continue how do we find profit for the year

For a non-profit organization like the Blackboys Football Club, what is referred to as "profit for the year" in a commercial business is called the Surplus of Income over Expenditure.

This was calculated in the Income and Expenditure Account that was prepared in the first response.

To find the Surplus of Income over Expenditure, you subtract the total expenditure from the total income for the year:

$$\text{Surplus} = \text{Total Income} - \text{Total Expenditure}$$

Using the figures from the Income and Expenditure Account:

• Total Income = M 18570
• Total Expenditure = M 13400

$$\text{Surplus} = \text{M } 18570 - \text{M } 13400$$ $$\text{Surplus} = \boxed{\textbf{M } 5170}$$

This M 5170 represents the profit (surplus) for the year ended 31 July 2018.