Kuldeep, a general merchant, keeps his accounts on Single Entry System. He wants to know the results of his business on 31st March, 2023 and for that the following information is available

Kuldeep, a general merchant, keeps his accounts on Single Entry System. He wants to know the results of his business on 31st March, 2023 and for that the following information is available:

During the year, he had withdrawn ₹ 500 for his personal use and invested ₹ 250 as additional capital. Calculate his profit on 31st March, 2023 and prepare the statement of Affairs as on that date.