2 (25 marks) The financial statements of Pretty Co. for two years are as follows: Comparative Statements of Comprehensive Income for the year ended: 31 Dec 2022 $'000 6,150 (3,560) 2,590 (1,000) 1,590 (70) 1,520 (100) 1,420 Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Profit before tax Taxation Profit after tax Comparative Statements of Financial Position as at: Shareholders' equity: Ordinary share capital Retained earnings Total shareholders' equity Long-term liabilities: 5% bank loan Current liabilities: Trade payable Total liabilities Total liabilities and shareholders' equity Property, plant, and equipment (net) Current assets: Inventories Accounts receivable (net) Cash Total current assets Total assets 31 Dec 2022 $'000 1,600 195 1,795 800 1,399 2,199 3,994 2,810 600 490 94 1,184 3,994 31 Dec 2021 $'000 3,838 (2,060) 1,778 (400) 1,378 (40) 1,338 (98) 1,240 31 Dec 2021 $'000 1,300 370 1,670 450 904 1,354 3,024 1,860 720 348 96 1,164 3,024