\begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ TRENT LTD } \\ \hline STATEMENT OF FINANCIAL POSITION AS AT 31 JULY 2023 \\ \hline \hline ASSETS & \\ \hline \hline Non-current assets & \\ \hline \hline & \\ \hline \hline & \\ \hline \hline Current assets & \\ \hline Inventories & \\ \hline Trade and other receivables & \\ \hline \hline Trade debtors & \\ \hline \hline Provision for bad debts & \\ \hline \hline & \\ \hline Cash and cash equivalents & \\ \hline \hline & \\ \hline Total assets & \\ \hline \hline & \\ \hline Total equity and liabilities & \\ \hline \hline Ton-current liabilities & \\ \hline \hline & \\ \hline \hline Trade and other payables & \\ \hline \hline Equity & \\ \hline \hline & \\ \hline \hline & \\ \hline \end{tabular} QUESTION 2 (20 MARKS) REQUIRED Use the information provided below to prepare the Stulement of Financial Poulion of Trest Limited as at 31 July 2023. The notes to the financlal statements are not required. INFORMATION Adjustments and additional information The proft after tax for the year ended 31 July 2023 amounted is R.392 100. The following afustments were made to the income and expenses but not to the balance sheet accounts: 1. A physical stocktake on 31 July 2023 revealed the following: 1.1. Trading inventory on hand amounted to Rt 050000 . 1.2 Stationery unuted amounted to PQ000. 2. Rent for August 2023 was received and recorded on 31 July 2023, R.4 000. 3. Dividends of 70 cents per share are due from ABC Limiled. 4. Commission on sales of R30 000 is owed is the salespersons. 5. Equipment, cost price R120 000, was purchased on credit on 01 July 2023 but no entry has been made for this. Depreciation on equipment is calculated at 15% p.a. on cost and on vehides at 20% p. an on the diminishing balance. 6. The bank statement was received after the trial balance was prepared and it relected burk charges of R1 800 7. The provision for bad debts must be adfusted to 5% of debtors. 8. Two of the directors of the company are owed remuneration of RCO 000 each. 9. Based on the profit for the year, an amount of R30 000 is stili owed io Soun Arican Revenue Services for company tax 10. The directors declared a final dividend of 12 cents per share. The interm dividend amounted to R100000