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Question One [10 Marks) The following information was taken from the books of Sahara Lid: TO 1160000 Aan de Mar Trading 2000 120.00 Money IT 55.00 Nation 2013 Additional information The company tax rate is 20.00 R4 432 32 must be transferred to the general reserve Provide for the preference dividend it year and as well as for a fral ordinary didend of a few share issued Land & buildings were re-wed from R130 277 7310 RITOST IT curteig the past few ywu revaluation has not yet been corded Afresh of 950 ordinary share took place during the para R10.00 pers. This is has been recorded There were 3 500 ordinary shares in issue at 31 December 2020 Details Debit (R) Credit 18 810,00 85 500.00 11 400.00 Balance sheet section Accumulated profit (1 January 2020) Ordinary share capital 10 Preference share capital Land & buildings Motor vehide Accumulated depreciation: Motor vehicle Trading inventory Deblos control 138 277.73 11 400.00 1 311.00 10 260.00 11 115.00 Allowance for credit losses 166.73 Bank Petty cash h 12 825.00 1710.00 17 955.00 Money market Creditors control 4 275.00 Bank loan 5 130.00 Nominal accounts section Net Income before tax 76 950.00 203 542.73 203 542.73 Additional information: iv. The company tax rate is 28.00 %. R4 432.32 must be transferred to the general reserve. Provide for the preference dividend at year end as well as for a final ordinary dividendo share issued Land & buildings were re-valued from R138 277.7370 R147 957 17 during the past finan revaluation has not yet been recorded. A fresh issue of 950 ordinary shares took place during the past financial year at an issul R10.80 per share. This issue has been recorded. There were 9 500 ordinary shares in issue at 31 December 2020 vi