You have been given these financial statement extracts of Speed Merchants (Pty) Ltd:

Notes relating to statement of profit or loss & other comprehensive income:

1. Gross profit % = 15%.

2. Tax rate = 40%

3. The dividend paid amounted to 16.67c/share.

Notes relating to the statement of financial position:

1. A taxation liability of R50 000 (the estimated amount due for 20x3, as the company has not yet been assessed for that year) must be included with the taxation liability for the current year.

2. Current ratio = 2.33 : 1.

You are required to:

1. Calculate the missing figures for the statement of profit or loss & other comprehensive income for the year ended 30 June 20x4.

2. Calculate the missing figures for the statement of financial position as at 30 June 20x4.

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STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 20x4 Sales Cost of sales Opening inventory Purchases Less: Closing inventory Gross profit Other operating income Income from investments Gross operating income Operating expenses Operating expenses Selling expenses Administration expenses Depreciation Operating profit before interest and taxation Interest expense Net profit before taxation Taxation Net profit attributable to ordinary shareholders Dividends Retained profit/(loss) for the year Retained profit - beginning of year RETAINED PROFIT - END OF YEAR Notes 1 2 20x4 3 000 000 00 ? 355 000 00 ? ? ? ? 15 000 00 15 000 00 ? 28 000 00 22 000 00 45 000 00 ? ? (70 000 00) ? (80 000 00) ? ? ? ? 400 000 00