Use the information below to answer questions

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

Drawings.....................................N3 000

Capital.................25 000...............N42 500

Furniture...............6 500...............N10 200

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

Calculate the net profit or loss made during the year.

• A N15 100 profit
• B N15 100 loss
• C N11 500 profit
• D N11 500 loss