The statement of financial position listed these balances on 31 December 2015: capital accounts X $20000$, Y $10000$; current accounts X $1000$ debit and Y $2500$ credit. Net assets on 1 January 2015 were $14000$. During the year ended 31 December 2015, property was revalued upwards by $12000$. There were no drawings in the year. Calculate the profit for the year ended 31 December 2015.
- A$2500
- B$5500
- C$14500
- D$17500