QUESTION FOUR [30] The following information from Incomplete Ltd's 2020 standardised statement of financial position and statement of comprehensive income are provided to you: Statement of financial position 2020 TOTAL ASSETS Property, plant and equipment (PPE) at cost price 320 000 Accumulated depreciation (239 000) PPE at carrying value 81 000 Goodwill 60 000 Investment in shares 8 000 Non-current assets 149 000 Inventories 43 000 Trade receivables 32 000 Cash and cash equivalents 24 000 Current assets 99 000 Total assets 248 000 EQUITY AND LIABILITIES Share capital 100 000 Reserves 10 000 Retained earnings 11 200 Ordinary shareholders' equity 121 200 Preference shares 30 000 Shareholders' equity 151 200 Non-controlling interest 22 000 Total equity 173 200 Long-term debentures 30 000 4 000 34 000 Long-term loan Non-current liabilities Trade payables Other payables Tax payable 20 000 16 800 4 000 40 800 Current liabilities Total equity and liabilities 248 000 Page 4 of 6 2020 Statement of comprehensive income Turnover Cost of sales and services rendered Gross profit Operating expenses Operating income Operating profit Investment income 274 000 (207 500) 66 500 (26 500) 1 500 41 500 4 000 Finance cost (6 000) 39 500 Profit before tax Tax (16 700) 22 800 Profit after tax Extract from Statement of Changes in Equity Retained profit XXX 22 800 (1 000) (2 400) Opening balance Profit for the year Non-controlling interest Preference share dividends Attributable earnings Ordinary dividends Retained earnings (for the year) Closing balance 19 400 (3 600) 15 800 XXX Additional information: Purchases on credit for the year amount to R80 000. Lease payments of R10 000 were made during the year. The company has 10 000 ordinary shares in issue. The market price per share amounts to R10