GABSA Pty Ltd issued $6000000$ units of ordinary shares at R$4$ per share on $30$ June $2020$ and the

annual financial year ended on $31$ July every year. The retained eamings on $31$ July $2022$ amounted to

R$24000000$ On $30$ December $2018,$ a resolution was passed by the company director in the board

meeting dedlaring a capitalisation issue of two$-$thirds to the existing shareholder while the shares were

trading at R$4\mathrm{.}20.$ The closing balance of retained earnings in the statement of changes in equity of

GABSA Pty Ltd for the reporting period ended $31$ July $2023$ is

A$.,8000000$

$24000000$

c$.,7200000$

D$.,16000000$