Jessica Windmere Business Balance Sheet 30 June 2017 30 June 2016 Cash 6 500 3 7

Jessica Windmere BusinessBalance sheet30 June 201730 June 2016Cash$6,5003,700Receivables10,1009,800Inventory29,40036,800Prepayments3,41102,000Total current assets49,41052,300Land33,60032,600Plant and equipment21,00028,400Total non-current assets54,60061,000Total assets104,010113,300Bank overdraft9,500Accounts payable13,70015,800Accrued expenses3,9003,300Total current liabilities17,60028,600Loan23,10027,300Total liabilities40,70055,900Net assets$ 63,310$ 57,400Equity$ 63,310$ 57,400In addition, Jessica Windmere tells her accountant that she has made drawings totalling $26,300 during the reporting period.Analysing the information provided, determine the profit or loss for Jessica Windmere for the year ended 30 June 2017.

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