Calculate the profit of a company for a year given that:

assets went up by $33 400 (part of this increase was the result of land being re-valued upwards by $20 000)

liabilities went down by $15 700 shareholders contributed $5 000 in new capital

dividends distributed to shareholders amounted to $7 500 (these dividends were declared and paid in the current year)

debt of $12 000 was reduced by an exchange for an equivalent amount of ownership capital.