2) Remi and Co begins the month with capital of $200,000 and the following assets and liabilities arose: Assets Non-current assets $500,000 $125,000 Receivables Liabilities Bank overdrafts $35,000 Payables $90,000 Long-term loan $300,000 During the last year the following transactions occurred: 1) Borrowed $150,000 from bank long term loan during the year for purchase of building 2) Customers pay and receivables reduces by $45,000 3) Invoiced customers for $70,000 4) Reduction in Accounts payable 45,000 5) Paid salaries of $15,000 6) Paid miscellaneous office expenses $500 7) Depreciation of $15,000 is charge for all assets for the year. 8) Interest on loan to be accrued at year end at 5% per annum a) Prepare income statement at year-end. b) Calculate Earnings per share for Remi and co. c) Analyse the company - what do you notice about it at year-end