Bright Bloom Florist, a flower shop, opened in January 2022. The company did not record any transactions since its opening, but carefully kept track of all its cash receipts and cash payments. The following information is available at the end of its first year of operation, December 31, 2022.

Cash Receipts and Cash Payments (Rs. in thousands)

Cash Receipts	Cash Payments
Issue of Common Shares	50,000
Sales of flowers and arrangements	150,000
Purchase of shop equipment	40,000
Rent	12,000
Insurance	5,000
Advertising	8,000
Utility bills	6,000
Salaries	60,000
Telephone	3,500
Income tax	20,000
Total	200,000

Additional Information:

1. At the end of December, customers owe Bright Bloom Florist Rs. 7,000 for flowers and arrangements they have received but not yet paid for.
2. The shop equipment was purchased at the beginning of January and has an estimated useful life of ten years.
3. On January 1, the company began renting space at a cost of Rs. 1,000 per month on a one-year lease. As required by the lease contract, the company paid the last month's (January 2023) rent in advance.
4. The insurance policy was purchased on January 1 and is effective for one year.
5. At December 31, Rs. 5,000 is owed for unpaid salaries.
6. At December 31, an additional Rs. 4,000 is owed for income taxes.

Required:

In good format, and making whatever assumptions you feel appropriate:

a. Calculate the cash balance at December 31, 2022. b. Prepare an accrual-based Income Statement, and Statement of Financial Position (Balance Sheet) for the year ended December 31, 2022.