Question 1 [20 Marks] Themba is the president of Shumba Ltd. Shumba began business on January 1, 2019. Presently, the company's accountant is out of the country on business. Themba needs a copy of the company's balance sheet for a meeting tomorrow and asks his assistant to obtain the required information from the company's records. She presents Themba with the following balance sheet. He then asks you to review it for accuracy. Assets Shumba Ltd Balance Sheet h For the year ended December 31, 2019 Liabilities and shareholders' equity R29 600 Accounts receivable R23 200 R177 300 Supplies R12 200 R14 750 Share capital R100 000 R16 000 Net income 2019 R113 850 Accounts payable Building and equipment Cash Cash dividends paid Required: 1.1 Correct the balance sheet for any errors. 1.2 Draft a memo explaining the major differences between the balance sheet Themba's assistant prepared and the one you prepared