Calculate Net Revenue.

Here is the Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2019.

Step 1: Calculate Net Revenue.
Net Revenue is calculated by subtracting sales returns from total sales.

$$\text{Sales} = 400,000 \text{ K}$$ $$\text{Sales Returns} = 15,000 \text{ K}$$ $$\text{Net Revenue} = 400,000 - 15,000 = 385,000 \text{ K}$$

Step 2: Identify Cost of Goods Sold (COGS).
The Cost of Goods Sold is directly provided in the trial balance.

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