The company Skikids produces children\'s skis. Skis are ordered via eshop and delivered to end customers by courier. The company does not incur any receivables from this business, everyone pays on delivery or even in advance.The company uses a classification of expenses by function and is divided into divisions within the company structure: Production, Administration and Distribution SellingFrom tonne of plastic, pcs of ski sets are produced using a D printer. Before finishing, each ski set pair of skis is treated with a protective varnish. Kg of varnish is used for each ski set.The company owns the following types of noncurrent assets as of January :AssetBuildingPersonal carD printerDate when the asset was put in use

personal car

D printer

The purchase price CZK

personal car

D printer

Directly attributable costs CZKD printer

The residual value CZK

personal car

Useful life capacity years, km ski sets

Asset utilisation by division:

Production

building

personal car

D printer

Administration

building personal car D printer

Distribution

bulding

personal car D printer

Internal regulations on noncurrent assets:Noncurrent assets are depreciated from the month following the month when they were put in use.The building is depreciated over its estimated useful life using straightline depreciation method. The D printer and the personal car are depreciated using unitsofactivity method. The estimated total capacity of the D printer is ski sets as of December the D printer has produced ski sets The personal car has driven kilometres in The estimated total capacity of car is kmOther internal regulations:The company\'s accounting period is the calendar year.The company uses a classification of expenses by function.The FIFO method is used for the valuation of finished goods and inventory of materials for production.As of January the company reports the following account balances in CZK in addition to the information provided above:Share capital: CZK Retained earnings: CZK Material: CZK t of plasticAdvance provided to the supplier of varnish: CZK Current account: CZK Payables to suppliers: CZK Payables to employees: CZK Tax payable: CZK Finished products: CZK pcsAll payments in the company are made fromto the bank account unless specifically stated otherwise. During the financial year calendar year the Company has made the following transactions:

All outstanding wages to employees and outstanding taxes were paid from the bank account.

Supplier delivered kg of protective varnish for which the advance was provided by the company in prior year, no further payment was required.

Purchased t of plastic for CZK on credit. The invoice for the transport of this material was sent directly from the carrier. The price stated on the invoice for transport is CZK

Invoice received for electricity consumption in the amount of CZK with a breakdown:a CZK consumed in production,b CZK consumed in the Administration division,c CZK consumed in the Distribution division.

Wages and salaries accounted for in the total annual amount of CZK used in Production Administration and Distribution The final balance of payables to employees as at is CZK

Liabilities to suppliers of CZK were paid from the current account.

In the personal car has driven kilometres.

The company paid for a web advertisement offering a vacancy sales representative The advertisement is ordered and paid for the period July to June The price of the advertisement is CZK

In December the company was awarded a contract for the supply of skis to ski schools and received a deposit of CZK from the ski schools. The skis will be produced and delivered in January.

In ski sets were produced, no unfinished production is remaining at the year end.

All products including those produced in previous years were sold in total for CZK All paid into the company\'s current account. Dont forget that even in the introduction there is information that implies some events and activities to account for!Required: Prepare the Opening Balance sheet as at January

Record the transactions on T accounts.

Prepare the Income statement for the year

Prepare the Closing Balance sheet as at December