BLACKJACK On December 31st, year N, the financial statements of BLACKJACK's company before registering the closing events are given in the appendix. You are given the following information 1. Stocks amount to 30,000 at the closing date 2. There is a litigation between BLACKJACK and a former employee. Based on recent case-law, a provision of 12,000 has been recorded last year. The trial court has sentenced BLACKJACK to pay damages for an amount of 20,000 BALCKJACK decided to appeal 3. Bingo is a doubtful customer. The initial receivable amounts to 1,500 and an allowance has been recorded last year for 480. Based on new information, the allowance should amount to a total of 700 4. The equity portfolio was as followed on December, year N-1: Security Purchasing price Allowance Net value on 2,000 4,000 31/12/N-1 1,000 4,000 1,000 0 On 31/12/N, the estimated value of A Security is 3,000 and the average stock exchange price of B Security in December N is 4,200 5. Lands are estimated at 40,000 6 All the fixed assets are depreciated on the linear basis. Useful lives are the following ones Softwares-5 years, purchased on January 1st, N -Technical facilities 10 years, purchased on March 12th, N Transportation equipment 7 years IT equipment- 5 years Required : Register the closing entries in the journal of entries and present the financial statements on December 31st, N, after the registery of the closing entries. Give your comments and financial analysis BLACKJACK On December 31st, year N, the financial statements of BLACKJACK's company before registering the closing events are given in the appendix. You are given the following information 1. Stocks amount to 30,000 at the closing date 2. There is a litigation between BLACKJACK and a former employee. Based on recent case-law, a provision of 12,000 has been recorded last year. The trial court has sentenced BLACKJACK to pay damages for an amount of 20,000 BALCKJACK decided to appeal 3. Bingo is a doubtful customer. The initial receivable amounts to 1,500 and an allowance has been recorded last year for 480. Based on new information, the allowance should amount to a total of 700 4. The equity portfolio was as followed on December, year N-1: Security Purchasing price Allowance Net value on 2,000 4,000 31/12/N-1 1,000 4,000 1,000 0 On 31/12/N, the estimated value of A Security is 3,000 and the average stock exchange price of B Security in December N is 4,200 5. Lands are estimated at 40,000 6 All the fixed assets are depreciated on the linear basis. Useful lives are the following ones Softwares-5 years, purchased on January 1st, N -Technical facilities 10 years, purchased on March 12th, N Transportation equipment 7 years IT equipment- 5 years Required : Register the closing entries in the journal of entries and present the financial statements on December 31st, N, after the registery of the closing entries. Give your comments and financial analysis