Use the information below to answer the question........................1/7/2005.....

Question

Use the information below to answer the question

........................1/7/2005............30/6/2006

Drawings.....................................₦3 000

Capital.................25 000...............₦42 500

Furniture...............6 500...............₦10 200

Additional capital during the year amounts to 300% of the drawings.

Calculate the net profit or loss made during the year.

Options

D)

₦11 500 loss