The trial balance below relates to Ashanti Inc. at 31 December 2022: The following notes are relevant: Non-current assets The 15-year leasehold property was acquired on 1 January 2020 at a cost of $30 million. The accounting policy is to revalue the property at fair value at each year end. The valuation in the trial balance of $25.2 million as at 31 December 2021 led to an impaiment charge of $2.8 million which was reported in the statement of profit or loss and other comprehensive income in the yar ended 31 December 2021. At 31 December 2022 the property was valued at $24.9 million. Owned plant is depreciated at 25% per annum using the reducing balance method. The right-of-use plant was acquired on 1 January 2020 . The rentals are $6 million per annum for four years payable in arears on 31 December each year. The interest rate implicit in the lease is 8% per annum. Right-of-use plant is depreciated over the lease period. No depreciation has yet been charged on any non-current assets for the year ended 31 December 2022. All depreciation is charged to cost of sales. On 1 July 2021 Ashanti Inc. entered into a contract to construct a bridge over a river. The performance obligation will be satisfied over time. The agreed price of the bridge is $50 million and construction was expected to be completed on 30 June 2023. The $14.3 million in the trial balance is: The sales value of the work done at 31 December 2022 has been agreed at $22 million and the estimated cost to complete (excluding plant depreciation) is $10 million. The specialist plant will have no residual value at the end of the contract and should be depreciated on a monthly basis. Ashanti Inc. recognizes progress towards satisfaction of the performance obligation on the outputs basis as determined by the agreed work to date compared to the total contract price. Ashanti Inc.'s revenue includes $8 million for goods it sold acting as an agent for Kenzy Inc. Ashanti Inc. earned a commission of 20% on these sales and remitted the difference of $6.4 million (included in cost of sales) to Kenzy Inc. The directors have estimated the provision for income tax for the year ended 31 December 2022 at $4.5 million. The required deferred tax provision at 31 December 2022 is $5.6 million. All adjustments to deferred tax should be taken to the statement of profit or loss. The balance of current tax in the trial balance represents the under/over provision of the income tax liability for the year ended 31 December 2021. Required: (a) Prepare the statement of profit or loss and other comprehensive income for the year ended 31 December 2022. (b) Prepare the statement of financial position as at 31 December 2022. Note: Show all workings