Question 7 At the beginning of the financial year, a sole trader business had total equity of 45,600 and by the end of the year, this had risen to 53,500. During the year, the sole trader owner withdrew 18,400 in cash for her personal expenses and introduced her car into the business, which was valued at 7,300. Compute the profit or loss made by this business during the year. If the amount is profit put a (+) in front of it; otherwise, if it is a loss put a (-) in front of it. (4 marks)