What is meant by a ‘statement of affairs’? How can the profit or loss of a trader be ascertained with the help of a statement of affairs?

The viability of seeds can be ascertained with the help of

Preparing Statement Of Affairs

Mr. Arnav does not keep proper records of his business he provided following information, you are required to prepare a statement showing the profit or loss for the year. Ascertainment of statement of affairs at the beginning and at the end of the year and calculation of profit or loss.

Following information is given below : calculate the closing capital Calculation of profit or loss and ascertainment of statement of affairs at the end of the year (Opening Balance is given)