Clinton Enterprises' statement of owner's equity showed the following balances for the owner's capital account:
1. Beginning of the year: $225,000
2. End of the year: $260,000
(a) If the owner made no additional investments or withdrawals, what is the profit for the year?
(b) Assume instead the owner made an additional investment of $10,000 but no withdrawals during the year.
What is the profit for the year?
(c) Assume instead the owner made an additional investment of $5,000 and a withdrawal of $7,000. What is the profit for the year?