Perform all the relevant steps in the accounting cycle which will allow for you to prepare and present the an Profit or Loss Statement as well as the Statement of Financial Position for the month of December 2022. using the trial balance and notes below

Account Debit Credit Rent $60,000 Cash $416,990 Capital $2,400,000 Bank $158,400 Motor Vehicle $1,500,000 Computer $200,000 Purchase $400,000 Creditors $111,500 Insurance expense $50,306 Sales $373,000 Purchase returns $8,500 Sales return $6,400 Electricity expense $31,200 telephone Expense $10,400 Drawings Expense $50,000 Water Expense $9,304 Total $2,893,000 $2,893,000