Extract from: Statement of financial position of Mode Ltd as at 30 June 2020: ASSETS 30 June 2020 30 June 2019 R R Land and buildings 925 000 890 000 Machinery at carrying amount 875 000 250 000 Investments 235 000 385 000 Inventory 170 000 480 000 Trade debtors 140 000 400 000 Receiver of revenue - income tax 10 000 Nil Bank balance 30 000 15 000 Total assets 2 385 000 2 420 000 EQUITY AND LIABILITIES EQUITY 1565 000 940 000 Ordinary share capital 745 000 480 000 Retained earnings 820 000 460 000 LIABILITIES 820 000 1 480 000 Long term Borrowings 750 000 1 050 000 Trade creditors 60 000 352 000 Receiver of revenue - income tax Nil 43 000 Shareholders for dividends 10 000 35 000 Total equity and liabilities 2 385 000 2 420 000 Additional information: 1. Shares were issued for cash during the year. 2. Dividends of R180 000 were declared during the current financial year. 3. On 31 October, machinery with a carrying amount of R110 000 was sold for cash. A replacement machine as well as additional machinery was purchased for cash. 4. No long term borrowings were made during the year. 5. Investments were sold during the year. No new investments were purchased. 8