Question: A Trader commenced business on 1st January, 1960, his position then being:
![2010_Land.png](https://secure.tutorsglobe.com/CMSImages/2010_Land.png)
He traded for a year, drawing nothing out of the business for his personal use and paying in no additional capital. His position on 31st Dec. 1960 was:
![1949_Delievery.png](https://secure.tutorsglobe.com/CMSImages/1949_Delievery.png)
Prepare a statement of profit or loss for the year.