1. What is the amount of profit or loss of Esem Co. for the year?

8. Esem Co. balances for the current year: Cash in Bank Accounts Reci. Merchandising Inventory Accounts Payable Notes payable-bank Office Equipment (net) Beginning Ending 30,000 (5,000) 50,000 70,000 100,000 80,000 40,000 20,000 20,000 25,000 80,000 60,000 During the year, the owner withdrew cash of 12,000; made additional investments of 50,000