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REQUIRED Answer the questions from the information provided below: 1.1 Calculate the Retained Income balance as at 31 December 2022. 1.2 Calculate the interest expense for the year ended 31 December 2022. 1.3 Did the company increase its cash balance from 31 December 2021 to 31 December 2022? Motivate your answer with the relevant calculations. 1.4 Calculate the amount that would appear for the "purchase of property, plant and equipment" in the cash flow statement for the year ended 31 December 2022. 1.5 What is the likely impact on the following if the LIFO method of inventory valuation is used instead of FIFO during periods of rising prices? 1.5.1 Carrying value of inventory in the Statement of Financial Position. 1.5.2 Cost of sales in the Statement of Comprehensive Income. 1.6 Without making use of any ratios, provide an interpretation of the following over the two-year period: 1.6.1 Investments 1.6.2 Loan. NAVARONE LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: Note: 1. The number of shares in issue as at 31 December 2022 was 8010000 . 2. The credit terms to customers are 30 days. 3. Property, plant and equipment were purchased during the year but none were sold. 4. All purchases of inventory and sales are on credit