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3 The net assets of Altese, a trader, at 1 January 20X2 amounted to $128,000. During the year to 31 December 20X2 Altese introduced a

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3 The net assets of Altese, a trader, at 1 January 20X2 amounted to $128,000. During the year to 31 December 20X2 Altese introduced a further $50,000 of capital and made drawings of $48,000. At 31 December 20X2 Altese's net assets totalled $184,000. What is Altese's total profit or loss for the year ended 31 December 20X2? O $54,000 profit o $54,000 loss o $42,000 loss 0 $58,000 profit (2 marks)

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