Earlwood Ltd has been operating for several years now. So far the profit for the current year is $75 000, before income tax. Management is considering a few changes and has asked your advice. The possible changes are: 

a. Change the revenue recognition policy to recognise revenue earlier in the process. This would increase accounts receivable by $26 000 immediately and $28 000 at the end of the previous year. 

b. Make a monthly accrual of the bonuses paid to employees at the end of each fiscal year. This would increase accounts payable by $11 000 immediately and $7000 at the end of the preceding year. 

c. Postpone for five years repayment of a $19 000 loan (by Jan to the company), which has up to now been classified as a current liability. 

d. Capitalise as an asset a development cost of $14 000 for wages expense recorded in the preceding year.

Required: 

Calculate the net profit before tax for the current year.