A sole trader provides the following information.

1 Jan 20X831 Dec 20X8$$Fixed assets60,00070,000Current assets15,00018,000Total liabilities12,00014,000

Drawings for the year were $10,000. What was the net profit?

Question 7 options:

1)

$10,000

2)

$13,000

3)

$21,000

4)

$25,000