Dublin Window Cleaners began operations on January 1, 2016. The owner invested $400,000 during the first year and made no withdrawals.
During 2017, the business reported profit of $192,000, owner withdrawals of $104,000, and zero owner investments.
In 2018, Dublin Window Cleaners earned profit of $366,000. The owner withdrew $218,000 during 2018 and made no investments. Owner’s capital at December 31, 2018, was $605,000.

Required 

Calculate the profit or loss for the year 2016.