Mbazo Forestry is a partnership with Ukhozi and Sparrow as partners. The following information pertains to the business activities of the partnership for the year ended 30 June 2022.

1. Balances as at 30 June 2022:

MBAZO FORESTRY
BALANCES AS AT 30 JUNE 2022
Capital: Ukhozi	R90 000
Capital: Sparrow	R70 000
Current account: Ukhozi (Dr: 1 July 2021)	R2 500
Current account: Sparrow (Cr: 1 July 2021)	R1 250
Drawings: Ukhozi (30 June 2022)	R4 490
Drawings: Sparrow (30 June 2022)	R7 000
Trade payables control	R54 930
Bank (positive)	R83 240
Inventory	R22 500
Trade receivables control	R38 500
Allowance for credit losses	R250
Vehicle at cost	R96 000
Building at cost	R120 000
Accumulated depreciation: Vehicles	R11 600
Prepayment: Equipment hire	R38 800
Profit for the year	R62 500

2. Additional information:

2.1 Partnership agreement:

2.1.1 The partners Ukhozi and Sparrow share profits and losses in the ratio of 3:2 respectively.

2.1.2 Interest is calculated at 12% per annum on the opening balances of the partners capital and current accounts.

2.1.3 Both partners are entitled to a salary of R15 000 per month. On 30 June 2022, the partners were paid R10 000 each as a month salary. This information is yet to be recorded in the books of the partnership.

2.2 Year-end adjustments:

2.2.1 Ukhozis mother-in law decided to lend R100 000 to the partnership on 30 June 2022 to enable them to buy land for development. The R100 000 will be a long-term loan to the partnership, with interest calculated at 8% per annum and will be repayable in equal instalments over 10 years. The first instalment is due on 30 June 2023.

2.2.1 On 30 June 2022, a debtor owing the business R150 must still be written off as irrecoverable.

Which one of the following alternatives represents the correct amount that must be disclosed as total equity in the statement of changes in equity of Mbazo Forestry for the year ended 30 June 2021?

a.

R161 250

b.

R149 760

c.

R158 750

d.

R160 000

e.

R161 300