A statement of profit or loss reports a draft loss for the year of $9450. Nevertheless, the following mistakes have been found. 1. Depreciation of $10 000 on non-current assets has been wrongly recorded by applying the straight-line method at 25% per annum. The true depreciation rate is 20% per annum. 2. No entry has been made for goods withdrawn by the owner for personal use, $720. What is the corrected draft loss?
- A$6730
- B$8170
- C$8230
- D$9670