Silver Company started operations from January 1, 2022, with owners investing $300,000 for Silver shares. No additional shares were issued during the year. By Dec 31, 2022, Silver cash on hand of $85,000, Machinery and equipment (net) of $125,000, inventories of $178,000, and trade payables of $30,000. Silver signed a notes payable for 2 year for $110,000 with its bank. Total sales for 2022 was valued at $864,000. Of this amount, customers still owed $74,000. Silver paid dividends of $35,000 to its shareholders. a. Based on the information above, prepare a classified statement of financial position for Silver Company as at December 31, 2022. (8 marks) b. Calculate the Net Profit earned by Silver company in 2022. (2 marks)