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A business has net assets of 70,000atthebeginningoftheyearand80,000 at the end of the year. Drawings were 25,000andalotterywinof5,000 was paid into the business during the year. What

A business has net assets of 70,000atthebeginningoftheyearand80,000 at the end of the year. Drawings were 25,000andalotterywinof5,000 was paid into the business during the year. What was the profit for the year? A 10,000loss B30,000 profit C 10,000profit D30,000 loss

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