The accountant for Coulombe Company is almost finished preparing the work sheet for the year ended July 31, 2014. The totals of the accounts in the income statement and balance sheet columns are presented below. Calculate the profit or loss, write this number in the proper columns, and calculate the final totals for these columns. Clearly indicate whether the company had a profit or a loss.

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Balance Sheet Income Statement Dr. 75,000 Cr Dr. Cr. 170,500 95,500 Totals Profit or loss Totals 191,000