QUESTION 1 (16 MARKS) Bukso CC was incorporated on 1 January 2012. The principal business of the close corporation is construction projects in Central region of Namibia. John Katenda and Piet du Koo each hold a 50% interest in the CC. The financial year-end of the CC is 31 December. The members each contributed N$60 000 towards the CC. On 31 August 2016 John Katenda sold his interest to the CC for N$70 000. On the same date Fabiola Smith obtains an interest of 35% in the CC. Her contribution at this stage was N$40 000 in cash. The following are additional information during 2016: Retained earnings N$650 000 on 1 January 2016; Net profit for the year is N$ 150 000; The CC bought a building since 2011 for N$1500 000 and had since being revalued to N$2300 000 in June 2016. YOU ARE REQUIRED TO: a) Calculate the new percentage of members' interest after the transaction on 31 August 2016. (3) b) Prepare the Statement of Changes in Net Investment of the members for the year ended 31 December 2016. (10) c.) Present the equity section of the statement of financial position as at 31 December 2016. (3)