Ted told Ian that it was necessary to include all relevant information on an income statement and showed Ian the following data: Owner investment: $8,000 Revenue: $15,000 Equity: $21,000 Expenses: $3,000 Based on this data, the net profit or loss on the income statement should be:
a.) Net Loss of $33,000
b.) Net Profit of $44,000
c.) Net Loss of $5,000
d.) Net Profit of $12,000