Blinken's trial balance as at 31 December 2022 was as follows: The following information is relevant: 1. Stock at 31 December 2022 was valued at $50,000 2. A motor vehicle was bought on 03 May 2018 for $48,000. Due to the high cost of repairs and maintenance, it was sold for $25,000 in cash on 30 June 2022. On 31 December 2022 , the book value of the vehicle was $19,661. Blinken estimates that the motor vehicles will lose 20% of its net book value each year. Depreciation is provided for a full year in the year of purchase; none in the year of disposal. 3. Salaries unpaid amounted to $7,000. 4. Miscellaneous bills include prepaid amount of $10,000 5. Other income prepaid amounted to $20,600. Prepare Blinken's income statement for the year ended on 31 December 2022 and statement of financial position as at that date after taking into account the above adjustments. [Gross profit =$91,580; Net profit =$21,535; Net assets / Capital =$89,035]