Bugs Ltd went into voluntary liquidation on 30 June 2020. Its summarised statement of financial position at that date is as follows:

Bugs Lid Statement of Financial Position As at 30 June 2020 Equity Current assets Share capital 53 000 Cash 10 000 Inventory 12 000 22 000 Non-current assets Land 40 000 Total assets 62 000 Current liabilities Payables 9 000 Total equity 53 000 Net assets 53 000