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At 1 June 2012 the value of Derek's net assets was $177,554. At 31 May 2013 the value was $234,529. During the year to 31

At 1 June 2012 the value of Derek's net assets was $177,554. At 31 May 2013 the value was $234,529. During the year to 31 May 2013 Derek made a profit of $28,125 and his stock drawings were $11,150. What was Derek's new capital for the year to 31 May 2013? $45,825 $40,000 $16,975 $56,975

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