1.On December 5, 2021, the company purchased new machinery from Nine Bhd for $45,000.The new machinery, like the rest of the company's machinery, will be depreciated at 15% per year using the declining balance technique on a yearly basis. The new machinery, on the other hand, is expected to have a residual worth of $5,000. On that date, the company received a $20,000 government subsidy for the purchase of new machinery and paid the remaining balance by check. The company's policy is to adopt the net-off approach for accounting for government grants.

2. On September 1, 2021, Fern Bhd purchased a retail building for $180,000 in order to demonstrate and advertise its products. The marketing department immediately put the shop building to use. A further $20,000 had been spent on a small repair of the shop building by Fern Bhd. On September 1, 2021, the renovation will commence. However, because to a covid-19 case involving two of the renovation workers, the work was halted for two weeks. The renovations began on September 15 and will be completed by September 30, 2021. The company had previously asked for a $200,000 loan from Mine Bank to help fund the purchase and restoration of the shop building. On July 4, 2021, Mine Bank granted a five-year term loan with a borrowing cost of 3% per year. Beginning on July 31, 2021, Dawn Bhd paid a monthly payment of $3,844 to Mine Bank. The shop building, like the rest of the company's structures, is depreciated using the straight-line approach. The shop building's and renovation's anticipated useful lives are 40 and 5 years, respectively.

3. Tax payable as at 31 December 2021 is $8,000.

Prepare the following financial statements in the form suitable for publication i. Statement of Profit or Loss and other Comprehensive Income for the year ended 31 December 2021. (Disclosure of Basic Earnings per Share is required) ii. Statement of Changes in Equity for the year ended 31 December 2021. iii. Statement of Financial Position as at 31 December 2021. iv. Notes to the account for property, plant and equipment.