3E (i) At the end of 2021, Hinton Hats Ltd had retained profits of $29 490. During 2022, it had revenue of

$112 350, general expenses of $91 170, depreciation expense of $6210 and income tax expense of $3420.

Dividends of $5000 were declared during 2022. What was the balance of retained profits at the end of 2022?

(ii) If the company paid $1200 cash for the rent on its shop for the last month of 2022, what would this event do to: assets, liabilities, profit for 2022, retained profits and equity?