The new business commenced operations on 31 December 2021. It is now just over one year later to he middle of January 2023. Your client jas asked you for assistance in preparing financial statements. Prepare the following financial statements based on the information below 1. Balance sheet as at 31 December 2021. 2. Profit and Loss statement for the year ending 31 December 2022. 3. Balance sheet as at 31 December 2022. 4. Statement of cash flow for the year dnding 31 December 2022. Finance information: The company was initially set up by issuing 240,000 shares at an issue price of $1 each. A new factory was purchased at a cost of $510,000. The new factory was largely financed by taking out a $454,000 mortgage loan. In addition to the mortgage loan the company took out a $529000 interest only unsecured bank loan. In addition to the factory the company purchased the following: Plant and Equipments to the value of $210,000. Furniture, fixtures and Fittings to the value of $150,000. Inventory to the value of $213,000. All of the above transactions occurred late in December 2021. Any cash remaining after these purchases was put into a bank account. On 1 March 2022, the company took out a bank overdraft. The outstanding balance on 31 December 2022 was $21,000. On 1 July 2022, motor vehicles to the value of $100,000 were purchased. On 31 December 2022, the company issued corporate bonds to the value of $730,000 and used the proceeds to purchase an additional factory costing $730,000. On 31 December 2022, the company issued 92,000 new ordinary shares at a price of $2 each and 131,000 new preference shares at a price of $1 each. Some of the amount raised was used to buy additional plant and equipment for the new factory at a cost of $200,000. During the course of year ending 31 December 2022, the following transaction occurred. Products to the value of $2,006,000 were sold and delivered. These sales were made on the basis of one month's credit. Of the $2,006,000 in sales occuring in 2022 products to the value of $160,000 were delivered in December 2022 and will not be paid for until January 2023. Raw materials to the value of $1,023,000 were ordered and taken delivery of. These purchases were made on the basis of one month's credit. of the $1,023,000 raw materials to the value of $99,000 were ordered and taken delivery of in December 2022 and will not be paid for until January 2023. Payment of wages $153,000 Payment of rent $106,000 Payment of Motor Vehicle Running Expenses $48,000 Payment of insurance $44,000 Payment of interest $79,000 Payment for printing and stationery $17,000 Payment for Heating and Lighting $25,000 Payment for Telephone, postage and internet charges $19,000 Further an additional $49,000 was paid in December for January's rent. In addition to the above interest payment the principal owing on the mortgage loan was reduced by $34,000. The value of inventory on 31 December 2022 was $183,000. Depreciation on motor vehicles,plant and equipment and furniture,fixtures and fittings is calculated on a straight line basis at the rate of 10% per year. Land and Buildings is not depriciated. The company faces a tax rate of 30%.The company's dividend payout ratio is 75%.