Question One $($Compulsory$)$

Manu started business with a capital of $$500,000$ on $1$st October, $2020.$ He brought further $$75,000$ as capital on $31$ st March, $2021,$ his position was: Cash: $$30,000$; Stock: $$470,000$; Debtors: $$350,000$ and Creditors: $$300,000.$ He withdrew $$8,000$ per month during this period. Calculate profit and loss for the period. $(10$ marks$).$