Can someone help finish the last part (2023) It would be better if you can help me check if there are any small problems ahead

01-January-2021 01-January-2021 01-January-2021 01-January-2021 03-January-2021 04-May-2021 11-May-2021 29-May-2021 06-June-2021 09-December-2021 28-December-2021 31-December-2021 31-December-2021 07-May-2022 14-May-2022 18-May-2022 09-June-2022 08-June-2022 11-December-2022 29-December-2022 31-December-2022 31-December-2022 10-May-2023 16-May-2023 05-June-2023 22-May-2023 11-June-2023 17-December-2023 26-December-2023 31-December-2023 31-December-2023 Transaction Open business bank account with transfer of personal funds EFT for rental of office space. Immediate occupancy. 48 months at $3500 per month. Office equipment purchased for cash to get discount from the retail price of $44,000. Office equipment to be replaced in 5 years. Expect to get $4,000 for old equipment. Bank loan approved and credited to account. Payable in 2024 Credit sales. EFT payment to be received in 90 days. Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. Cash sales Purchased supplies on credit from Office Works. Credit sales. EFT payment to be received in 90 days. Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. Recorded estimate for electricity expense. Bill not yet received. Count of supplies revealed showed amount on hand at year-end of... Credit sales. EFT payment to be received in 90 days. Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. Cash sales Purchased supplies on credit from Office Works Used excess cash to make partial repayment on bank loan. Credit sales. EFT payment to be received in 90 days. Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. Recorded estimate for electricity expense. Bill not yet received. Count of supplies revealed showed amount on hand at yearend of ... Credit sales. EFT payment to be received in 90 days. Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. Paid Office Works account in full. Used excess cash to make partial repayment on bank loan. Cash sales Credit sales. EFT payment to be received in 90 days. Employee timesheets submitted for work performed. Payment (EFT) to be made in 7 days. Received bill for electricity. For three years !!! Norm thought he was never going to get billed. Count of supplies revealed showed amount on hand at year-end of ... $440,000 $168,000 $40,000 $4,000 $210,000 $71,500 $7,300 $39,500 $36,000 $40.000 $8,030 $8.800 $7,200 $42,500 $5,000 $59,000 $50.000 $35,000 $29,000 $5,500 $9.680 $10.000 $90,000 $6,200 $86,000 $37,000 $49,000 $49,500 $6,820 $29,040 $4,000 Norm Ullman Pty Ltd Income Statement for the year ending 31 December 2021 Consulting services revenue $ 151,000 Expenses Office space rent 42,000 Depreciation - Office equipment 7,200 Wages 15,330 Supplies 28,800 Electricity 8,800 Total expenses 102,130 Profit before income tax expense Income tax expense (45%) Profit after tax 48,870 21,992 26,878 $ ASSETS Current Assets Accounts receivable Supplies Prepaid rent Total current assets $ 545,700 40,000 7,200 42.000 $ 634,900 $ Non-Current Assets President Office equipment & furniture Accumulated depreciation Net bock value-office equip & furniture Total non current assets Total Assets 84,000 40,000 (7.2001 32.800 116.800 751,700 $ $ LIABILITIES Current Liabilities Accounts payable Income tax payale Wages payable Electricity payable Total current liabilities ES 35.000 21.992 8,030 8,800 74,822 $ Non-Current Liabilities Bank loan Total non-current liabilities Total Listilities $ 210,000 $ 210,000 $ 284,822 EQUITY Contributed capital Retained rings Total Equity $ 440,000 25,878 $ 466,878 Total Liabilities and Equity $ 751,700 Cash flows from operating activities 111,000 (168,000) (7,300) Receipts from custi$ Payment for rental Payments to emplo Payment for supplie Payment for electric Payment for income Net cash used by $ (64,300) Cash flows from investing activities Purchase of office $ Net cash used by $ (40,000) (40,000) Cash flows from financing activities 440,000 210,000 Contribution by owr $ Proceeds from ban Repayment of bank Net cash provide $ 650,000 $ 545,700 Net increase in cash Cash at beginning of the financial year Cash at end of the financial year $ 545,700 Norm Ullman Pty Ltd Income Statement for the year ending 31 December 2022 $ 130,500 Consulting services revenue Expenses Office space rent Depreciation-office equipment Wages Supplies Electricity 42,000 7,200 10,500 47,200 9,680 Total expenses 116,580 Profit before income tax expense Income tax expense (45%) Profit after tax 13,920 6,264 7,656 $ ASSETS Current Assets Accounts receivable Supplies Prepaid rent Total current assets $ 608,378 29,000 10,000 42.000 $ $89,378 42,000 40,000 (14.400) 25.500 $ 67,600 $ 756.978 Non Current Assets Prepaid rent Office equipment & furniture Acourlisted depreciation Net bock value-office equip & furniture Total non current assets Total Assets LIABILITIES Current Liabilities Accounts payable Income tax payable Wages payable Electricity payable Total current liabilities $ 85,000 $ 6,254 5,500 9.680 $107.444 $ $ 175,000 175,000 282.444 Non Current Lisbilities Bank loan Total non-current liabilities Total Liabilities EQUITY Contributed capital Retained earnings Total Equity $ 440,000 34534 $ 474,534 Total Lisbilities and Equity $ 756,978 $ Cash flows from operating activities Receipts from customers Payment for rental of office space Payments to employees Payment for supplies Payment for electricity Payment for income tax Net cash provided from operating activities 168,000 ENTRY (11,700) ENTRY ENTRY (6.264) ENTRY Cash flows from investing activities Purchase of office equipment and furniture Net cash used by investing activities $ $ (29,000) (29,000) Cash flows from financing activities Contribution by owner Proceeds from bank loan Repayment of bank loan Net cash provided from financing activities ENTRY ENTRY (35,000) ENTRY Net increase in cash Cash at beginning of the financial year Cash at end of the financial year ENTRY 545,700 ENTRY Norm Ullman Pty Ltd Income Statement for the year ending 31 December 2023 $ 188,500 Consulting services revenue Expenses Office space rent Depreciation office equipment Wages Supplies Electricity 42,000 7,200 13,020 6,000 10,560 Total expenses 78,780 Profit before income tax expense Income tax expense (45%) Profit after tax 109,720 49,374 60,346 $ ASSETS Current Assets Cash Accounts receivable Supplies President Total current assets ENTRY 49,500 4,000 ENTRY ENTRY Non Current Assets Prepaid rerit Office equipment & furniture Accumulated depreciation Nest back value-office equip & furniture Total non-current assets Total Assets ENTRY ENTRY ENTRY ENTRY ENTRY ENTRY LIABILITIES Current Liabilities Accounts payable Income tax payable Wages payable Electricity paytle Total current liabilities ENTRY ENTRY ENTRY ENTRY ENTRY Non-Current Liabilities Bank loan Total non-current liabilities Total Liabilities ENTRY ENTRY ENTRY EQUITY Contributed capital Retained earrings Total Equity ENTRY ENTRY ENTRY Total Liabilities and Equity ENTRY Cash flows from operating activities Receipts from customers Payment for rental of office space Payments to employees Payment for supplies Payment for electricity Payment for income tax Net cash provided from operating activities ENTRY ENTRY ENTRY ENTRY ENTRY ENTRY ENTRY Cash flows from investing activities Purchase of office equipment and furniture Net cash provided from investing activities ENTRY ENTRY Cash flows from financing activities Contribution by owner Proceeds from bank loan Repayment of bank loan Net cash provided from financing activities ENTRY ENTRY ENTRY ENTRY Net increase in cash Cash at beginning of the financial year Cash at end of the financial year ENTRY ENTRY ENTRY