PLEASE SHOW ALL CALCULATIONS

QUESTION 4 Use the following information of SKID LTD. provided below to prepare the Statement of Financial Position as at 28 February 2018. STATEMENT OF FINANCIAL POSITION INFORMATION SKID LTD. POST ADJUSTMENT TRIAL BALANCE ON 28 FEBRUARY 2018 BALANCE SHEET ACCOUNTS DEBIT CREDIT Ordinary Share Capital Retained Income Premises Equipment Vehicles Accumulated Depreciation Equipment Accumulated Depreciation Vehicles 1785 000 160 000 1 300 000 490 000 970 000 180 000 290 000 185 000 700 48 000 Consumables on Hand Debtors Control Provision for Bad Debts Bank Cash Float Petty Cash Loan : Dry Bank Creditors Control Accrued income Deferred Income Accrued Expenses Prepaid Expenses Net Profit before Tax SARS: Income Tax Dividends [interim 2 800 17 000 5 000 2 000 160 000 61 000 3 300 4 200 2 500 4 000 680 500 160 000 175 000 3 168 000 3 168 000 Additional information: a. b. c. d. 400 000 shares are in issue at the end of the year Directors have declared a final dividend of 45 cents per share at the end of the year Company tax as per legislation is 28%. R40 000 of the loan will be repaid on 01 June 2018 as per loan agreement