At the beginning of the financial year, a trader had equity of R45,600 and by the end

Fantastic news! We've Found the answer you've been seeking!

Question:

At the beginning of the financial year, a trader had equity of R45,600 and by the end of the year, this had risen to R53,500. During the year, she withdrew R18,400 in cash for her personal expenses and introduced her car into the business, which was valued at R7,300. What was the profit or loss for the financial year?

a. R3,200(loss)

b. R7,900(profit)

c. R19,000(profit)

d. R26,300(profit)