Self-test Sheila presented you with the following information:

(i) At 1 January 2009 she had assets of £70,000 and liabilities of £7,300.

(ii) At 31 December 2009 assets were £90,000 and creditors for goods purchased amounted to £8,700.

During the year Sheila was given a bank overdraft fixed for two years. At 31 December 2009 the balance was £17,000.

Sheila had drawings of £11,300 during the year.

You are required to determine the profit for the year.