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Connect Assignment Blue Water Kayak began operations on January 1,2022. The owner invested $16,000...

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Accounting

Connect Assignment
Blue Water Kayak began operations on January 1,2022. The owner invested $16,000 during the first year and was able to withdraw cash of $51,000 after a successful first year.
During 2023, the second year of operations, the business reported profit of $181,000, owner withdrawals of $81,000, and no owner investments.
In 2024 the third year, Blue Water Kayak incurred a loss of $5,600. The owner made no withdrawals and no owner investments during this period. At the end of 2024, owner's capital was $126,000.
Required:
Calculate the profit or loss for 2022
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