Question $2$: Detailed Financial Analysis and Reporting

ABC Inc., a manufacturing company, has provided the following financial information for the year ended December $31,2023$:

$\backslash$table$[[$Account balances,Debit,Credit$],[$Cash$,25,000,],[$Accounts receivable,$60,000,],[$Inventory$,80,000,],[$Property$,$ plant & equipment,$150,000,],[$Accumulated depreciation $-$ equipment,,$40,000],[$Accounts Payable,,$35,000],[$Salaries Payable,,$10,000],[$Ordinary shares @ $$1$ each,,$200,000],[$Retained earnings: Jan $1,2023,,75,000],[$General reserves,,$56,000],[$Sales$,300,000,],[$Cost of sales,$20,000,],[$Rent expense,$15,000,],[$Depreciation expense,$186,000,],[$Distribution costs,$50,000,],[$Salaries Expense,$5,000,],[$Interest Expense,$10,000,],[$Utilities expense,$15,000,],[$Dividends declared and paid,$916,000,916,000]]$

Additional information:

a$)$ Provide for corporation tax of $$14,600.$

b$)$ Transfer to general reserves $$12,300.$

Required:

Prepare an Income Statement for the year ended December $31,2023.$

Prepare a Statement of Changes in Equity for the year ended December $31,2023.$

Prepare a Comparative Statement of Financial Position as of December $31,2022,$ and December $31,2023.($Assume the $2022$ balances were: Cash $$20,000,$ Accounts Receivable $$50,000,$ Inventory $$70,000,$ Equipment $$150,000,$ Accumulated Depreciation $-$ Equipment $$25,000,$ Accounts Payable $$30,000,$ Salaries Payable $$8,000,$ Common Stock $$200,000,$ Retained Earnings $$65,000)$

Prepare a Statement of Cash Flows for the year ended December $31,2023,$ using the indirect method.