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What the amount of net profit or loss

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Question - Polo Bond is the sole owner and operator of Fun Polo Shop. The following is information as of the end of its accounting period.

 

June 30, Year 2

June 30, Year 1

Total Assets

$995,000

$940,000

Total Liabilities

$270,000

$300,000

What the amount of net profit/loss during Year 2, if Polo invested an additional $73,000 and withdrew $33,000 from the business?

a. $45,000 loss.

b. $52,000 profit.

c. $45,000 profit.

d. $52,000 loss.

e. None of the above answers is correct.

Reference no: EM132830854

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