EXERCISE 3 The opening balance of 20X1: ASSETS EQUITY & LIABILITIES Fixed assets 5,400 Shareholders' equity 55,900 Current assets 21,680 Deferred tax liabilities 700 Deferred costs (RMC) Deferred income tax assets Receivables 920 6,000 Provisions for warranty repair Other provisions 800 1,000 28,000 Deferred income (RMP) 3,600 Total assets 62,000 Total equity & liabilities 62,000 1. Deferred costs (RMC) are connected with the service provided. Estimated income from the service is 40,000 and estimated costs are 35,000. On reporting day, 70% of the service was