Cambridge Ltd is a market leader in the Fast Moving Consumer Goods (FMCG) industry. It was established in 2015, starting operations on 1 April of that year. It is based in Pretoria and has a 30 September Financial year end. The following is an extract taken from the Trial balance of Cambridge Ltd as at 30 September 2020: Extract from trial balance for the year ended 30/9/2019 Notes Debit - R Credit - R Ordinary no-par value shares (1/10/2019) Non-redeemable preference shares (1/10/2019) 1 5 600 000 2 Shareholders for dividend - ordinary dividend (1/10/2019) 3 300 000 Retained Earnings (1/10/2019) 4 900 000 Additional Information 1. The Authorised Share capital of Cambridge Ltd consisted of 2 000 000 ordinary no-par value (Class A) shares and 900 000 7% R9 Non-redeemable (Class B) Shares. Since incorporation until the current financial year, 800 000 ordinary no-par value (Class A) shares have been issued to the public. No 7% R9 Non-redeemable (Class B) Shares have been issued to the public since incorporation. On 15 January 2020, Cambridge Ltd offered 700 000 ordinary no-par value (Class A) shares to the public at R9 per share. The entity entered into an underwriting agreement with Immaculate Underwriters on 15 January 2020, who agreed to underwrite the share offer for 4% commission of the total share offer. The commission was paid on 5 March 2020. The applications closed on 28 February 2020, with the directors receiving 675 000 applications. The applications were allotted on 3 March 2020. Further share issue costs amounted to R 123 750 and were paid on 7 March 2020. 2. Cambridge Ltd further offered 500 000 7% R9 Non-redeemable (Class B) Shares on 10 March 2020. All the shares offered where taken up by the closing date on 28 March 2020. The directors allotted the shares on 31 March 2020. 3. The company declared dividends as follows. Date Declared 1 March 2020 30 September 2020 Date paid Amount (Dividend per share 15 April 2020 RO.28 15 October 2020 RO.23