FOUR [30] The Statement of Comprehensive Income and the Statement of Financial Position of YR Sales Limited have been prepared for the year ended 31 March 2023. Statement of Comprehensive Income for the year ended 31 March 2023 2023 2022 Sales 2 985 000 3 675 000 Cost of sales Q4.1 (845 000) Gross profit 1 402 280 2 830 000 Distribution, Administration and other expenses (964 000) (628 000) Operating expenses 812 000 465 000 Depreciation Q4.2 163 000 Operating profit 438 280 2 202 000 Interest on loan 86 196 140 400 Profit/Loss before tax 352 084 2 342 400 Tax Q4.3 ( 655 872) Profit/Loss after tax 253 500 1 686 528 On 17 February 2023, assets purchased on 1 October 2021 for R120 000 was sold for cash. company purchased new assets during the financial year. A final dividend of R100 000 was declared on 18 March 2023 as payable to the shareholders. Statement of Financial Position as at 31 March 2023 Assets 2023 2022 Non-current assets Property, Plant and Equipment 2 500 000 2 565 000 Current assets Inventory 725 000 813 000 Accounts receivable 452 000 505 000 Cash and Cash equivalents Q4.4 Q4.5 2 493 500 2 178 000 Total assets 4 993 500 4 743 000 Equity and liabilities Equity Share capital 1 400 000 1 150 000 Retained income 2 651 000 2 497 500 4 051 000 3 647 500 Non-current liabilities Loan 11% 650 000 890 000 Current liabilities Accounts payable 87 500 78 000 Taxes SARS 95 000 62 500 Shareholders for dividends Q4.6 65 000 292 500 205 500 Total equity and liabilities 4 993 500 4 743 000 Cashflow statement for the year ended 31 March 2023 Cashflow from operating activities Profit before interest and tax 438 280 Add depreciation Q4.7 Profit before working capital changes 590 280 Working capital changes 150 500 - Decrease in inventory 88 000 - Decrease in receivables 53 000 - Increase in payables 9 500 Cash generated from operations 740 780 Interest paid Q4.8 Dividends paid Q4.9 Income tax paid Q4.10 Q4.11 Cashflow from investing activities Q4.12 Non-current assets sold Q4.13 Non-current assets purchased Q4.14 Cashflow from financing activities 10 000 Proceeds from issue of ordinary shares 250 000 Long-term loan redeemed - 240 000 Net change in cash and cash equivalents Q4.15 Cash and cash equivalents at the beginning of the year Q4.16 Cash and cash equivalents at the end of the year Q4.17 Required: The junior accountant asked for your assistance to calculate the outstanding reporting balances (show all calculations) E