Question: People First Consulting Pty Ltd started the year with total assets of $ 8 0 0 0 0 and total liabilities of $ 4 0

People First Consulting Pty Ltd started the year with total assets of $80000 and total liabilities of $40000. During the year the business earned $150000 in income, incurred $95000 in expenses and dividends of $20000 were paid. What was People First Consulting Pty Ltd's profit for the period?
$35000
$55000
$40000
$30000

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