Pacific Pet Supplies, a pet supplies store, opened in February 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, January 31, 2023.

Cash Receipts and Cash Payments (Rs. in thousands)

Cash Receipts	Cash Payments
Issue of Common Shares	65,000
Sales of pet supplies	180,000
Purchase of store equipment	50,000
Rent	15,000
Insurance	5,500
Advertising	9,000
Utility bills	7,000
Salaries	70,000
Telephone	4,000
Income tax	22,000
Total	245,000

Additional Information:

1. At the end of January, customers owe Pacific Pet Supplies Rs. 8,500 for supplies they have received but not yet paid for.
2. The store equipment was purchased at the beginning of February and has an estimated useful life of ten years.
3. On February 1, the company began renting space at a cost of Rs. 1,250 per month on a one-year lease. As required by the lease contract, the company paid the last month's (February 2023) rent in advance.
4. The insurance policy was purchased on February 1 and is effective for one year.
5. At January 31, Rs. 6,000 is owed for unpaid salaries.
6. At January 31, an additional Rs. 5,000 is owed for income taxes.

Required:

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

a. Calculate the cash balance at January 31, 2023. b. Prepare an accrual-based Income Statement, and Statement of Financial Position (Balance Sheet) for the year ended January 31, 2023.