Mr. A keeps his books by single entry. His position on 1st January 1999 was as

follows:

Cash in hand $. 250: cash at bank $. 1,000; Debtors $.2,000; stock $. 2,500; furniture $. 750: creditors $. 1,500 plant and machinery $ 3,000.

His position on 31st December 1999 : cash $ 300; Debtors $. 3,000; stock $. 3500; furniture Rs 1.000: plant and machinery $. 4,500; creditors $. 2,000; Bank overdraft $. 500.

During the year he withdrew $. 450 for his domestic expenses and introduced $. 750 as fresh capital.

Prepare the statement of affairs and ascertain his profit or loss for the year.