Calculate the amended profit/loss Kate has prepared a draft income statement for her business for the year ended 28 February 2015 that shows a loss for the year of $1060. She then discovers the following errors:

a. Rent payable of $1250 had been paid in advance. This had not been recorded in the rent account.

b. Discounts allowed of $480 had been incorrectly credited to the discounts received account.

c. Returns outwards of $280 had been incorrectly credited to the purchases account.

d. An item of inventory of $960 had been omitted from the closing inventory.

e. Plant and machinery depreciation had been overstated by $750.

f. The credit balance on rents received of $1890 had been brought down as $1980.

Required

Calculate the amended profit or loss for the year. Show clearly whether each adjustment increases the loss, decreases the loss or has no effect on the loss for the year.