Manveer started his business on April 01, 2016 with a capital of Rs 4,50,000. On March 31, 2017 his position was as under:   (5 marks)

                                             Rs

Cash                                  99,000

Bills receivable                  75,000

Plant                                  48,000

Land and Building          1,80,000

Furniture                           50,000

 He owned Rs 45,000 from his friend Susheel on that date. He withdrew Rs 8,000 per month for his household purposes. Ascertain his profit or loss for this year ended March 31, 2017.