Bank Muamalat Malaysia Berhad contributed $500,000 for a Mudarabah contract (Mudarabah Muqayaddah) for property development project to Gombak Properties. The profit sharing ratio agreed by both parties is 2:1 between the Bank (Rabb al-Mal) and Gombak Properties (Mudarib) respectively. The project incurred loss of $100,000 in the first year; realized profit $375,000 in the second year; realized profit of $450,000 in the third year, realized profit of $220,000 in the fourth year and incurred loss of $80,000 in the fifth year.

Required:

a. Calculate the profit/loss earned/incurred by the bank for the years 1 to 5.