medication.com/ext/map/index.html?_con-con&external browser=0&launch Url=http%253A%2526%252Fnewconnect.meducation.com2521/activity/ques Assignment #1 Seed Blue Water Kayak began operations on January 1, 2016. The owner invested $23,000 during the first year and was able to withdraw cash of $61.500 after a successful first year. During 2017, the second year of operations, the business reported profit of $188,000, owner withdrawals of $84,500, and no owner investments. In 2018, the third year, Blue Water Kayak incurred a loss of $6,300. The owner made no withdrawals and no owner Investments during this period. At the end of 2018, owner's capital was $133,000. Required: Calculate the profit or loss for 2016. Profit