The trial balance of Beta shows the following balances at 31 December 2021: Dr Cr $000 $000 Issued share capital (500,000 500 shares, $1 par value) Share premium 20 Finance costs 70 Retained earnings 1 January 124 2021 Inventory (raw materials) at 11 60 January 2021 Revenue 1092 Purchases 590 Purchases returns 26 Sales returns 28 Carriage outwards 28 2021 Intangible assets Work-in-progress at 1 January Administrative wages Warehouse plant and equipment cost Accumulated depreciation - 1 January 2021 80 190 30 92 50 Delivery vehicle hire 20 Distribution expenses 10 Administrative expenses 30 Directors' salaries 30 Sales allowances 45 Investment income 61 Bank overdraft 40 Trade receivables 380 Cash at bank 110 Land 120 1913 1913 Additional information: (1) Inventories at 1 January 2022 were valued at $10,000. (2) Work-in-progress at 1 January 2022 was valued at $20,000 (3) Depreciation charges for the year amounting to $27,000 and $5,000 are to be included in distribution costs and administrative expenses, respectively. (4) The income tax rate is 20%. (5) A final dividend of $0.50 per share was accrued on 31 December 2021. (6) There were no disposals of any non-current assets during the year. Land was revalued at 31 December 2021 to $100,000. No entries have yet been made to record this. (7) Insurance for delivery vehicles is to be accrued $1,000. (8) Receivables totalling $30,000 are to be written off (9) General reserve is to be created at $2,000 (10) Allowance for receivables should be created as 2% of net receivables Required: Prepare a) a statement of profit or loss (income statement) for the year ended 31 December 2021, b) a statement of changes in equity for the year ended 31 December 2021, c) a statement of financial position (balance sheet) at that date