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Question 5 [10 marks] Rhodes Bakery The balance sheet taken from the company's annual financial statements for the year ended December 2017 is provided below

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Question 5 [10 marks] Rhodes Bakery The balance sheet taken from the company's annual financial statements for the year ended December 2017 is provided below December 31 Assets: Current Assets: Cash Accounts Receivable22,500 Inventory Other Current Assets6.500 Total Current Assets98 R61,100 R54,000 17,500 7,000 5.500 4,000 8,500 ,600 Long-term Assets: Property, Plant & Equipment, net Intangible Assets 44,900 25,000 211.250 225000 Total Assets Current Liabilities: Accounts Payable Interest Payable Current Portion of Long- Term Debt Income Tax Payable Total Current Liabilities R5,500 500 15,000 18.500 R39,500 R4,500 500 23,000 28,000 Long-term Liabilities Notes Payable Total Liabilities 246,250 285,750 15.000 43,000 Shareholders Equity Ordinary shares 60,000 35,000 TURN OVER]

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