And the following additional information:

$$ The inventory at $31/12/2022$ is $9,000.$

$$ Buildings are depreciated using the straight line method, with $25$ years of useful

life and a resale value of $15,000.$

$$ Machinery is depreciated using the reducing balance method, with a $30\%$ yearly

depreciation.

$$ At the end of the year, there is an outstanding bill for electricity consumed in

December $2022.$ The amount is $400$ and it will be paid at the end of January $2023.$

$$ A receivable for $1000$ is considered irrecoverable and needs to be written off. The

company needs to take a provision for doubtful debts equal to $5\%$ of receivables.