PURITEE, a limited liability company, has an accounting year end of 31 December. The accountant is preparing the financial statements as at 31 December 2021 and requires your assistance. The following trial balance has been extracted from the general ledger: Dr $000 Cr $000 Cash Bank balance 16,400 1,400 Trade payables 5,000 Trade receivables 6,400 Allowance for receivables at 1 January 2021 200 10% Loan, repayable in 2026 6,000 Buildings at cost 14,800 Buildings accumulated depreciation, 1 January 2021 1,200 Plant at cost 4,400 Plant accumulated depreciation, 1 January 2021 2,200 Revenue 46,000 Purchases 22,800 Administrative expenses 6,500 Equity shares, $1 8,300 Share premium account 1,600 Retained earnings at 1 January 2021 2,600 Inventory at 1 January 2021 3,200 74,500 74,500 The following additional information is also available: - Plant is depreciated at 20% per annum using the reducing balance method and buildings are depreciated at 5% per annum on their original cost. Depreciation is treated as a cost of sales. - On 31 December Buildings were revalued to 18 mln USD. No journal entry was provided to account for this transaction. - Salary expenses for December 2021 were not yet accounted for. Gross salary is estimated at 300,000$. Out of 100 employees, 30 employees have 1 child each and education expenses for all children during academic year of 9 months (from September till May) in the amount of 30,000$. Salary payable is treated within Trade payable account. 30% of Salary expense are included in Administrative expenses, 70% are included in Cost of Sales. - The allowance for receivables is to be increased to 5% of trade receivables. The allowance for receivables is treated as an administrative expense. - An invoice of $50,000 for energy costs relating to the quarter ended 31 December 2021 was received on 2 January 2022. Energy costs are included in administrative expenses. - Closing inventory has been counted and is valued at $1,500,000 - No finance cost was accounted for during the year. The finance cost is payable on an annual basis at the year end. - Income tax expense was estimated at $10,000 and is payable within 3 months period of the next accounting period. No accounting entries were made for income tax expense. - USD/KGS foreign exchange rate is 85 KGS/USD for the purposes of payroll cost estimation. Required: Prepare the statement of profit or loss and the statement of financial position of PURITEE Co as at 31 December 2021 based on the updated trial balance. Provide all relevant journal entries and ledger accounts to complete the tasks.