From the information given below ascertain the profit for the year :
Capital at the beginning of the year = Rs 70,000
Additional capital introduced during the year = 17,500
Stock = 59,500
Sundry debtors = 25,900
Busines premises = 25,900
Machinery = 2,100
Sundry creditors = Rs 33,400
Drawings made during the year = Rs 26,400

Answer

Profit : Rs 1,600