Here is the statement showing the company's profit or loss: Step 1: Calculate Opening Capital Opening Capital is calculated as Total Opening Assets minus Total Opening Liabilities. $$ \begin{align} \text{Opening Assets} &= \text{Stock} + \text{Debtors} + \text{Furniture \& Fixtures} + \text{Cash at Bank} \\ &= \text{K}19,000.00 + \text{K}12,000.00 + \text{K}16,500.00 + \text{K}13,500.00 \\ &= \text{K}61,000.00 \\ \\ \text{Opening Liabilities} &= \text{Sundry Creditors} + \text{Outstanding salaries} \\ &= \text{K}14,500.00 + \text{K}3,200.00 \\ &= \text{K}17,700.00 \\ \\ \text{Opening Capital} &= \text{Opening Assets} - \text{Opening Liabilities} \\ &= \text{K}61,000.00 - \text{K}17,700.00 \\ &= \text{K}43,300.00 \end{align} $$ Step 2: Calculate Closing Capital Closing Capital is calculated as Total Closing Assets minus Total Closing Liabilities. $$ \begin{align} \text{Closing Assets} &= \text{Stock} + \text{Debtors} + \text{Furniture \& Fixtures} + \text{Plant} \\ &= \text{K}20,000.00 + \text{K}15,500.00 + \text{K}12,000.00 + \text{K}20,000.00 \\ &= \text{K}67,500.00 \\ \\ \text{Closing Liabilities} &= \text{Sundry Creditors} + \text{Bank overdraft} \\ &= \text{K}13,000.00 + \text{K}6,000.00 \\ &= \text{K}19,000.00 \\ \\ \text{Closing Capital} &= \text{Closing Assets} - \text{Closing Liabilities} \\ &= \text{K}67,500.00 - \text{K}19,000.00 \\ &= \text{K}48,500.00 \end{align} $$ Step 3: Prepare Statement of Profit or Loss $$ \begin{array}{l r} \textbf{XYZ Ltd} & \\ \textbf{Statement of Profit or Loss} & \\ \textbf{For the year ended 31 December 2023} & \\ \text{Closing Capital (31 Dec 2023)} & \text{K}48,500.00 \\ \text{Add: Drawings} & \text{K}2,000.00 \\ \text{Less: Additional Capital} & (\text{K}500.00) \\ \text{Adjusted Closing Capital} & \text{K}50,000.00 \\ \text{Less: Opening Capital (1 Jan 2023)} & (\text{K}43,300.00) \\ \textbf{Profit for the year} & \boxed{\textbf{K7,200.00}} \\ \end{array} $$ That's 2 down. 3 left today — send the next one.