Connect Assignment

Blue Water Kayak began operations on January $1,2022.$ The owner invested $$16,000$ during the first year and was able to withdraw cash of $$51,000$ after a successful first year.

During $2023,$ the second year of operations, the business reported profit of $$181,000,$ owner withdrawals of $$81,000,$ and no owner investments.

In $2024$ the third year, Blue Water Kayak incurred a loss of $$5,600.$ The owner made no withdrawals and no owner investments during this period. At the end of $2024,$ owner's capital was $$126,000.$

Required:

Calculate the profit or loss for $2022$