The following opening account balances are extracted from Best Products Ltd$.\text{'}$s trial balance as at $01\mathrm{.}01\mathrm{.}2023($k$$)$:

The company recorded the following transactions during financial year $2023$:

Acquisition of raw materials for the cost of $100kS.$

Raw materials consumption in amount of $50k$$$.$

Collecting in cash at banks the amount of $75kS,$ representing a customer's receivable.

Sale of merchandise for the selling price of $100kS.$ The acquisition cost of the goods sold is of $80kS.$

The invoice for electricity consumption is received. The cost of electricity used by the company is in amount

of $50kS.$

The cost of salaries is recorded in amount of $300k$$$.$

Finished goods are obtained for a production cost of $1,000k$$$.$

Finished goods are sold at a selling price of $200kS.$ The production cost of the sold finished goods is in

amount of $160kS.$

A fully depreciated equipment is sold. The invoice shows a selling price of $50k.$ The acquisition cost of

the sold equipment is of $100kS.$

A partially depreciated equipment is sold. The invoice contains a selling price of $500kS.$ The acquisition

cost of the sold equipment is of $300k$$ and the accumulated depreciation is in amount of $150kS.$

The company's share capital is increased through the incorporation of retained earnings in amount of $150$

$kS.$

A short$-$term loan in amount of $300k$$ is received through the bank account.

The accrued interest of a long$-$term bank loan is booked in amount of $20kS.$

The long$-$term bank loan annuity is paid as follows: due instalment of $200k$$ and interest of $20k.$ The

loan is reimbursed in equal annual shares.

A piece of equipment is purchased for the acquisition price of $500k$$$.$

The company renders services to a customer. The charged fee is in amount of $20kS.$

Buildings' depreciation is recorded in amount of $100k$$$,$ as well as the depreciation of plant and machinery

in amount of $25k$$$.$

The raw material supplier is paid $($transaction $1).$

A Microsoft Office license is purchased at a cost of $3\mathrm{.}6k$$$.$

The depreciation of the Microsoft Office license for the current financial year in amount of $1k$$ is recorded.

The expenses and revenues accounts are closed.

The profit tax expense is recorded. The tax rate is $16\%$ applied to the gross profit.

The income tax expense account is closed.

Requirements:

a$)$ Analyse and journalise all the above transactions.

b$)$ Prepare the company's balance sheet as at $31\mathrm{.}12\mathrm{.}2023($by disclosing in comparison initial account balances

as at $01\mathrm{.}01\mathrm{.}2023$ and final account balances as at $31\mathrm{.}12\mathrm{.}2023),$ considering the impact of the transactions

Best Products Ltd$.$ conducted during the financial year.

c$)$ Prepare the company's income statement as at $31\mathrm{.}12\mathrm{.}2023,$ considering the transactions' effects on the $\frac{P}{L}$

which Best Products Ltd$.$ shows during the financial year.