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REQUIRED Prepare the Pro-Forma Statement of Financial Position for the year ending 31 Dec 23 INFORMATION Additional information A The sales budget for 2023 is as follows: Second Quarter Third Quarter Fourth Quarter First Quarter Statement of Financial Position for the year ended 31 December 2022 ASSETS Non-current assets Property, plant and equipment Current assets Inventories Accounts receivable Cash TOTAL ASSETS EQUITY AND LIABILITIES Equity Current liabilities Accounts payable TOTAL ASSETS AND LIABILITIES R2 625 OOO R2 750 OOO R2 875 OOO R2 750 OOO 800,000.00 800,000.00 600,000.00 440,000.00 440,000.00 B. 90% of sales-collected in the quarter of the sale and 10% in the quarter following the sale C. The gross margin ratio for 2023 is expected to be the same as 2022. D. Inventory is purchased in the quarter of the expected sale. 80% of inventory purchases is paid for in the quarter of purchase and 20% is paid for in the quarter following the purchase. E. The inventories balance at the end of each quarter is expected to be the same as the end of the last quarter of 2022 viz. RI 600 000. F. Variable selling and administrative expenses will be the same as for 2022 and will include annual depreciation of R160 000 on property, plant and equipment. G. On 31 December 2023 an old equipment originally costed R180 000 and accumulated depreciation of R150 000 will be traded-in for new vehicle. The new vehicle will cost R400 000 and the trade-in value of the old vehicle is expected to be R50 000. H. The proprietor's drawings for 2023 are estimated to be RI 527 000. l. The cash balance (bank) must be calculated.