1) Jesus started his business,SALVATION INC., on 01 January 1902 with $30,000 cash and $20,000 worth of equipment. During the year to 25 December 1901, he gambled and won $50,000 and invested $30,000 out of this amount into SALVATION INC. He withdrew $15,000 during the year for his personal use. The net assets of business totaled $59,000 as at 25 December 1901 Determine the amount of net profit or loss for the year ended 31 December 2016? O $4,000 profit $16.000 loss $6,000 loss $26,000 profit