Which of the following statements most accurately explains 'capital expenditure? Lee opened his new business on 1.January 2016. On that date, the only asset was a bank balance of $10,000. During the year, Lee'd drawings from the business totalled $35,000. On 31 December 2016, the assets and liabilities of the business were as follows: Computers and furniture $60,000, inventory of raw materials $16,500, finished goods, at cost $7,400, bank overdraft $11,600, trade payables, $5,500, prepayments $1,500, trade receivables $4,500, the provision for bad debts $2,000, bank loan $39,000, interest payable $500, accrued expenses, $2,600. What is the profit of the business in the year ended 31 December 2016