A trader does not maintain complete accounting records, but the following details were supplied. capital at 1 January 2021: $26\,000$ capital at 31 December 2021: $37\,000$ drawings made during year: $6500$ Over the year, $9500$ was taken from the owner’s personal bank account to buy a motor vehicle for use in the business. What was the profit for the year?
- A$8000$
- B$11\,000$
- C$14\,000$
- D$17\,500$