Charlotte started a new business on 1 October 20X7. In the year ended 30 September 20X8, she introduced capital of $30,000 and paid $500 per month from her business bank account to her personal bank account. On 30 September 20X8, the net assets of the business were $15,800.
What is the profit or loss of the business in the year ended 30 September 20X8?