Ethan Hawk, a sole trader prepares financial statements to 30 November each year. In the year ended 30 November 2020 he reported a net profit of $ 125 400 and net assets of $ 355 500. Following a thorough investigation the following errors were discovered: Oct 30 Depreciation charge of $5,000 on machinery at a rate of 20% per annum on the straight line balance basis was not recorded in the depreciation expense account. The error has not yet been corrected. 1. Bank interest received of $3 730 was recorded as bank interest paid. The error has not yet been corrected. 2. A cheque for $7 800 received from a customer was incorrectly recorded in the cashbook and in the receivables account as $8 700. The error has not yet been corrected. Ethan corrected the errors and then re-calculated his net profit. What profit would be reported on the Income Statement following the correction of the errors above