Holiday Travel Australasia commenced business on 1 April 2021. Alice Adare is a good manager but a poor accountant. From the trial balance prepared by a part-time bookkeeper, Alice prepared the following statement of profit or loss for the year ended 31 March 2022. Alice knew something was wrong with the statement because profit up to February had not exceeded $40 000 (approximately $3,600 per month). Knowing that you are an experienced accountant, she asks you to review the statement of profit or loss and other data. You first look at the trial balance. In addition to the account balances reported in the statement of profit or loss, the general ledger contains these selected balances at 31 March 2022. Advertising supplies on hand Prepaid insurance Bank loan Building Office Equipment Motor Vehicle Salaries payable Subscription Revenue in Advance $10 000 31 180 50 000 85 000 62 000 58 000 Nil 53 900