HLOPHEKANE FARMING had the following balances when they commenced a simultaneous liquidation of the partnership: Farming equipment (cost). Farming equipment (accumulated depreciation).. Trade receivables. Trade payables... The following transactions took place as part of the liquidation: 1. Farming equipment were sold for R198 800 2. Debtors settled their accounts in full 3. On settlement, the creditors granted a settlement discount of R1 600 R 397 500 R 134 200 R 64 600 R 29 900 Which one of the following alternatives represents the correct net profit (or loss) made on the simultaneous liquidation of Hlophekane Farming? a. R 460 500 b. R 197 100 c. R 62 900 d. R 64 500