1. 1.During 2019 Corleone Ltd declared dividends for $500. Retained profits at 1 January 2019 were $4,000, and at 31 December 2019, $4,400. At 31 December 2019, total assets were $10,000 and share capital $2,000. There were no transfers to reserves in 2019.

Calculate profit for 2019.

2.During 2019 Camaleone Ltd declared dividends for $800. At 31December 2019 retained profits were $4,000, total assets $10,000 and share capital $2,000. There were no transfers to reserves in 2019. What is the balance of liabilities at 31 December 2019?