Hello, I'm having trouble doing this question and was hoping for your humble guidance on how to approach this question.

One of the shareholders of Canadian Cookies and Cakes Ltd. is considering selling her shares, which represent one-third of the company's outstanding shares. The company is preparing its financial statements, which will be used by the shareholder to help determine the value of her shares. The following transactions have occurred since the shop started operations at the beginning of this year: 1. The company borrowed $43,000 from the bank to help get the business started, and repaid $15,000 of this before year end. Shareholders also paid $43,000 for their shares when the company started. 2. Ingredients costing $54,000 were purchased on account, and 80% of these ingredients were used in goods that were baked and sold during the year. Before the end of the year, payments of $47,000 were made for these ingredients. 3. Baking ovens were rented for $8,400 cash, paid at the rate of $700 per month. At the end of the year, the company purchased its own ovens for $46,000 cash. 4. Employees earned wages of $32,000 during the year. The company withheld income taxes of $3,200 from their paycheques, which it will forward to the Canada Revenue Agency (CRA) early next year. In other words, although the employees' wages were $32,000, the company deducted income taxes and paid only the remaining $28,800 net amount to the employees; it will pay the $3,200 of income taxes directly to the CRA. (Note that these income taxes relate to the employees' earnings, not the company's earnings. Consequently, they are recorded as part of the company's wage expense, not as income taxes expense.) 5 Interest on the bank loan for the year totalled $1,780, but has not yet been paid. 5 . 6. Various other expenses totalled $20,000 for the year, but only $18,900 of this amount was paid before the end of the year. 7. After $109,680 was collected from the sale of goods (which was the full sales amount), the cash balance at the end of the year was $31,580, and net income of $4,300 was reported. Show calculations to prove that the ending cash balance was $31,580 and the net income for the year was $4,300. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Calculation of cash on hand at end of year: Cash received: Sale of products $ 109,680 Bank loan 43,000 Shareholders' investment 43,000 $ 195,680 Cash paid out: Payment on bank loan $ 15,000 Purchase of baking supplies 47,000 Rent payments on ovens 8,400 Purchase of ovens 46,000 Payment of wages 28,800 Payment of other expenses 18,900 164,100 $ 31,580 Calculation of net earnings for the year: Sales Revenue $ 109,680 Cost of Goods Sold $ 43,200 Interest Expense 1.780 Other Expenses 20,000 Wages Expense 28,800 Rent Expense 8,400 102,180 Net Income /(Loss) $ 4,300 Show calculations to prove that the ending cash balance was $31,580 and the net income for the year was $4,300. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Calculation of cash on hand at end of year: Cash received: Sale of products $ 109,680 Bank loan 43,000 Shareholders' investment 43,000 $ 195,680 Cash paid out: Payment on bank loan $ 15,000 Purchase of baking supplies 47,000 Rent payments on ovens 8,400 Purchase of ovens 46,000 Payment of wages 28,800 Payment of other expenses 18,900 164,100 $ 31,580