3.1 Required: Prepare the Statement of Financial Position of Gomora Ltd as at 31 December 2020 from the

following information provided: (8 Marks)

Accumulated depreciation 280 000

Retained earnings 154 000

Cash in bank 7 000

Mortgage bond 198 800

Accounts receivable 53 200

Plant and equipment at cost 1 008 000

Accounts payable 49 000

Provision for bad debts 8 400

Ordinary share capital 403 200

Inventories 92 400

Marketable securities 21 000

Shares in XYZ Limited 28 000

Notes payable 116 200