Before Calculating the Profit for the Period, the Totals of the Income

Multiple Choice

Before calculating the profit for the period, the totals of the income statement debit and credit columns on the worksheet are $60 000 and $80 000 respectively. What is the amount of the profit or loss?

A) $20 000 loss
B) $60 000 profit
C) $80 000 profit
D) $20 000 profit