Question 3 [30] Ms Peach, Mr Orange and Miss Lemon share profits in the ratio 5:3:1 for their partnership, Online Traders. Ms Peach decided to retire and has withdrawn from the partnership. The partnership's financial position on 30 April 2021, before her retirement, is as follows: ASSETS Online Traders Statement of financial position as at 30 April 2021 R Non-current assets Land and buildings Equipment Vehicles Total non-current assets Current assets Inventories Trade and other receivables Cash and cash equivalents Total current assets Total assets EQUITY AND LIABILITIES Equity 950 000 46 000 90 000 1 086 000 35 900 19 800 7 650 63 350 1 149 350 Capital: Mr Orange 375 000 Capital: Ms Peach 625 000 Capital: Miss Lemon 125 000 Current: Mr Orange (7 500) Current: Ms Peach (12 500) 2 500 Current: Miss Lemon Total equity Current liabilities Trade and other payables Total current liabilities Total equity and liabilities 1 107 500 41 850 41 850 1 149 350