GABSA $PtyLtd$ issued $6000000of$ ordinary shares $atR4$ per share $on30$ June $2020$ and the annual financial year ended $on31$ July every year. The retained earnings

$on31$ July $2022$ amounted $toR24000000.On30$ December $2022,$ a resolution was passed $by$ the company director $in$ the board meeting declaring a capitalisation

issue $of$ two$-$thirds $to$ the existing shareholder while the shares were trading $atR4\mathrm{.}20.$ The closing balance $of$ issued share capital $in$ the book $of$ GABSA $PtyLtd$ for the

reporting period ended $31$ July $2023is$

$A.40000000$

$B.25200000$

$C.40800000$

$D.24000000$