The following balances relate to Wales plc for the year ended $31$st December $2022$:

$$

Sales $($revenue$)900,000$

Equipment at cost $650,000$

Equipment accumulated depreciation $130,000$

$4\%$ Debentures $100,000$

Cost of sales $578,650$

Administrative expenses $160,000$

Interest paid $2,000$

Directors$$ remuneration $5,000$