If net assets at the beginning of 2006 were £10,000, what were the closing net assets?

CORRECT TEXT

The profit earned by Subramanian in 2006 was £ 50,000. He injected new capital of £12,000 during the year and withdrew goods for his private use that cost £4,000.

If net assets at the beginning of 2006 were £10,000, what were the closing net assets?

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Answer: £68010