Rebecca Tallance operates a rent a dress business from her home. She keeps her accounting records for business activities completely separate from her records for personal activities. At 30 June 2023, Rebecca had business assets and liabilities worth \($71\)  000 and \($25\)  000 respectively. At 30 June 2024, Rebecca had business assets and liabilities worth \($130\)  000 and \($42\)  000 respectively.

Required

1. Assuming Rebecca did not contribute to or withdraw from the business during the financial year, determine the profit/loss for the year.
2. Assuming Rebecca had withdrawn \($25\) 000 during the year, determine the profit/loss for the year.

Assuming Rebecca had contributed \($30\) 000 and withdrawn \($10\) 000, prepare a statement of changes in equity for the year.