Use the Information Given Below (As at 30 June 2016)to

Multiple Choice

Use the information given below (as at 30 June 2016) to answer the following question. A
-ssume no dividends were declared during the year.If the balance of retained profits at the start of the year was $50 000,what was the profit for the year?

A) $30 000
B) $80 000
C) $50 000
D) $40 000