Brian Bently owns and operates a retail store that specializes in sports car accessories. He opened this store on September 1, 2020. The name of the store is Bently Automotive. The store uses cash method of accounting. During 2020 he purchased inventory: Sept: $20,650 Oct; $30,725 Nov: 10,580 Dec: 15,945. The cost of the inventory on December 31 was $38,100. The stores gross receipts for 2020 were $63,550 with $600 in returns.

Expenses of the store: Store rent $7,495 Office Expense 1,375 Insurance 795 Fine paid for environmental damage from oil spill: 900 Advertising 700 Employee Wages 3,400 Payroll and other business taxes 510 Interest on a business bank loan 1,750 Accounting fees 310 Business gifts (all under $25) 150 Business Travel 790 Business Meals (100%) 150 Supplies 625 Utilities 980

Telephone 800 Mileage on personal vehicle: Business miles: 1,700 Commuting: 5,260 Other miles: 12,610 Maintenance 432 Miscellaneous 73

What was Brians total profit or loss from the business? (Use Schedule C form)