A corporation that was well established had very little share activity during the past year. The following table shows the balances for the equity accounts, and the related activities. What was the profit/loss for the year? The illustration shows some equity accounts and their activity during the year. The first line is titled Preferred shares converted to common and shows the amount $30,000. The second line is titled Contributed surplus and has the amount 30,000. The next line is titled Dividends declared and has the amount 65,000. The next line is titled Shareholders equity, beginning and has the amount 3,692,000. The last line is titled Shareholders equity, ending and has the amount 3,792,000. Select answer from the options below $5,000 profit $25,000 loss $165,000 profit $195,000 profit