INFORMATION The following information was extracted from the accounting records of Mobifone Limited on 31 December 2021, the end of the financial year: MOBIFONE LIMITED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2021 ASSETS Non-current assets Fixed/Tangible assets Investments Current assets Inventories Accounts receivable Cash Total assets R 1 700 000 1 500 000 200 000 5 300 000 3 400 000 1 600 000 300 000 7 000 000 EQUITY AND LIABILITIES Equity Share capital Retained earnings Non-current liabilities Loan: KLM Bank (15%) Current liabilities 3 200 000 2 300 000 900 000 1 600 000 1 600 000 2 200 000 Accounts payable 2 200 000 Total equity and liabilities 7 000 000 MOBIFONE LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2021 Sales (all credit) R 17 000 000 Cost of sales (14 000 000) Gross profit 3 000 000 Operating expenses ? Depreciation ? Other selling, general and administrative expenses 1 400 000 Operating profit 1 000 000 Investment income Interest expense Profit before tax Company tax Profit after tax 20 000 0 1 020 000 (285 600) 734 400