Ms Mariana is a promising farmer in the Kavungu region. She provides you with the following information for the year of assessment ending 28 February 2021: 1. 200 calves were born during the year of which 30 died of blackleg. 2. She had 200 cows at the beginning of the year. 3. She had 10 bulls at the beginning of the year that were now causing inbreeding. So she disposed the 10 bulls at N$10 000 each. She bought 15 new bulls at a cost of N$10 000 each. 4. Of the 300 tollies she had at the beginning of the year, she sold 150 at N$6 000 each. Ms Mariana was a church leader and she donated four tollies for their Church Christmas party. She slaughtered one for her daughters birthday who had just turned 21years old. 5. Of the 200 heifers she had at the beginning of the year, she slaughtered ten for rationing to her employees. 6. On the 1st of March 2020, she inherited 100 tollies from her late aunt, which increased her head. She also purchased 30 heifers at a price of N$6 500 each and five were stolen during the year. 7. The following expenses were incurred: N$ Employees uniforms 11 500 Donations to UNAM 12 000 Fencing 16 200 Fuel 15 800 Insurance 13 500 Maintenance and repairs of farming equipment 31 400 Rations for employees 75 000 New Tractor 291 000 Dip tank construction 25 800 Veterinary fees 38 400 Wages 148 000 8. During the year a two-bedroom house was built for his supervisor at a cost of N$520 000. 9. The following promotions took place during the year: i) 5 heifers became tollies ii) 3 tollies became cows

10. The market values for the livestock were as follows: Head N$ Cows 3 000 Bulls 10 000 Tollies 6 000 Heifers 6 500 11. Other Income received: Tractor hire N$5 000 Sheep shearing fees N$12 000 12. The balance brought forward in respect of capital expenses is N$270 000. You are required to: a) Prepare the livestock reconciliation statement b) Compute the tax liability for Ms Mariana at 28 February 2021. NB: To earn full marks support your answers with calculations and reasons. (5 marks) (25 marks