18.10 Proprietary company, with direct and indirect methods LO8 The following comparative statements of financial position and income statement are for the business of Bargains Galore Pty Ltd. BARGAINS GALORE PTY LTD Comparative Statements of Financial Position as at 30 June 2019 2020 ASSETS Cash at bank Accounts receivable Inventory Prepaid expenses Plant and equipment Accumulated depreciation-plant and equipment $ 20000 74 000 60 000 44 000 600 000 (180 000) $ 618 000 $ 30 000 52 000 88 000 36 000 648 000 (230 000) $624 000 LIABILITIES AND EQUITY Accounts payable Expenses payable Current tax liability Share capital Retained earnings 96 000 22 000 50 000 300000 150 000 618 000 60 000 40 000 44 000 300000 180 000 $624 000