MOODY Company invested $300 Million in cash equity investment and purchase an office building worth $200 million and office equipment worth $10 million in 2022. Middle of the year the company purchased car costing $3 million by cash and IT infrastructure $2 million by cash as well. The office building generates rent revenue of $60 million and incurred operating expenses of $40 million. Additional expenses paid during the year is marketing cost $3 million and administration expenses $2 million. The company also make an investment of $20 million at the end of the year and paid corporation tax amounted to $1 million. The company write off some assets which resulted in losses on disposal of $0.5 million at the end of the year.

All assets are depreciated using the straight-line method with the office building a useful life of 40 years and 10 years for office equipment. The useful life of the car is 8 years and IT infrastructure is 5 years. All of the assets will salvage value of 10% for its original cost.

By the year-end the consumer price index rose to 160 from an initial level of 125, averaging 140 during the year.

Prepare the balance sheet using the Historical cost and Current cost model.