The following adjusted Trial Balance is for Franks Store for the year ended 31 December 2022.

Account	DR $	CR $
Costs of sales	95,000
Wages and salaries expense	55,000
Rent expense	14,400
Interest expense	4,000
Advertising expense	7,000
Other expenses	8,000
Motor vehicle (MV)	36,000
Accounts payable		20,400
Sales revenue		225,000
Note payable (due 1.5.2022)		3,000
Capital 1.1.2020		45,000
Cash at bank	34,600
Drawings	30,000
Accounts receivable	19,000
Bank Loan due June 2021		36,000
Accumulated depreciation (MV)		14,400
Depreciation expense	9,800
Inventory	31,000
	343,800	343,800

Prepare the following reports in the space provided below:

a. Prepare a Statement of Changes in Equity for the year ended 31 December 2022

b. Prepare a classified Profit or Loss Statement (Income Statement) for the year ended 31 December 2022. You will need to split operating expenses between selling and general & administrative. Assume they are general expenses unless specifically a selling expense.

c. Prepare a classified Balance Sheet (Statement of Financial Position) as at the 31 December 2022. Classify assets and liabilities between current and non-current in your report.