Brighton Stationary is a small firm processing and selling office supplies. The firm has also sub-rented part of its unused space to another business. Brighton Stationary's most recent account balances at the end of the 31 December 2022 reporting period are presented below.

Depreciation expense $20 050 Accounts Payable $20 600 Office Supplies as at 31 December 2022. $200 Receivables $10 000 Equipment $120 000 Rent received in advance $12 000 Cost of supplies sold $17 500 Insurance expense $2100 Accumulated Depreciation- equipment as at 31 December 2022 Owners capital $14 700

owners capital $75 000

Salaries payable $6000 Salaries expense $100 300 Rent revenue $14 000 Retained earnings as at 1 January 2022 $16 000 Prepaid insurance $650 Rent expense $29 500 Cash $36000 Sales revenue $178 000

a) Prepare

i) Income statement for the year ended 31 December 2022.

ii) Balance sheet as at 31 December 2022.

b) Identify and describe potential users of Brighton Stationary financial statements.