On 1 July 2012 a business had net assets of $23,000. At 30 June 2013 they had total assets of $34,000 and total liabilities of $8,000. During the year the owner had introduced $2,000 more capital, and had taken drawings of $500 per month.What was the profit for the year ended 30 June 2013?
From: The Statement of Financial Position and Statement of Profit or Loss