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Question 1 [15 marks] South Africa Corporation has been in the business of delivering small packages for local companies within the City of Tshwane, since

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Question 1 [15 marks] South Africa Corporation has been in the business of delivering small packages for local companies within the City of Tshwane, since the year 2000 . The following information concerning financial activities during 2022 is available as at 31 December 2022: 1. Prepare an income statement for the year ended 31 December 2022. (9) 2. If you were a bank loan officer and South Africa Corporation wanted to borrow R100,000 from your bank, would you lend the money? Explain. (3) 3. Calculate retained earnings at 31 December 2022. (3)

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