QUESTION 2 Here is the statement of financial position for Ilvico Ltd as at 30 June 20x6. Ilvico Ltd STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 20x6 (37 Marks: 58 minutes) NS 20x6 400 000 20x5 400 000 Notes ASSETS Non-current assets Property, plant and equipment Accumulated depreciation Current assets Inventories Accounts receivable Cash and cash equivalents TOTAL ASSETS EQUITY AND LIABILITIES Capital and reserves Ordinary share capital Distributable reserves General reserve Retained earnin Non-current liabilities Long-term borrowings Current liabilities Short-term borrowings Accounts payable Sharcholders for dividends TOTAL EQUITY AND LIABILITIES 6 685 000 (285 000) 685 000 325 000 285 000 75 000 1085 000 652 500 625 000 (225 000) 550 000 265 000 225 000 60000 950 000 525 000 400 000 325 000 135 000 117 500 175 000 175 000 257 500 100 000 100 000 100 000 100 000 325 000 45 000 250 000 30 000 950 000 gs 222 500 35 000 1 085 000 Additional information: On 30 June 20x6, property, plant and equipment that had cost N$25 000 (and on which depreciation of NS15 000 was provided) were sold for NS5 000. On 30 June 20x6, the company made a capitalisation issue of one ordinary share for every three held by the shareholders. For this purpose an amount of NS75 000 was transferred from retained On 15 December 20x5 an Interim dividend of N$17 500 was declared and paid. On 30 June 20x6, a final dividend of N$35 000 was declared 2. carnings 3. 4