Rongai traders had the following opening balances as at the beginning of the year 2005 Sh 200,000 75,000 120,000 7,000 42,000 64,000 78,000 50,000 28,000 Land and buildings (N.B.V) Furniture and fittings(N.B.V) Motor vehicles (N.B.V) Cash in hand Debtors Creditors Bank overdraft Long-term loan Stock The closing balances at the end of the year were as follows: Sh land and buildings (N.B.V) furniture and fittings (N.B.V) motor vehicles (N.B.V) cash in hand Cash at bank Debtors Creditors long-term loan Stock Drawings made during the year amounted to Sh 14200 Compute the profit for the year 2005. 180,000 70,000 100,000 21,000 87,000 96,000 72,000 40,000 18,000