QUESTION ONE [25] Circle Trading (Pty) Ltd issues shares during the financial year ended 31 March 2023. Dividends of R75 000 was declared as interim and final dividend during the financial year. Assets with a carrying value of R295 000 was replaced with new equipment during March 2023. The final accounts have been prepared as follows: Statement of Financial Position as at 31 March 2023 Assets Non-current assets Property, Plant and Equipment Current assets Inventory 2023 2022 2 645 000 2 580 000 Accounts receivable 775 000 465 000 816 000 513 000 Cash and Cash equivalents 1 654 000 1 235 000 2 894 000 2 564 000 Total assets 5 539 000 5 144 000 Equity and liabilities Equity Share capital 1 556 000 1 223 000 Retained income 2 848 500 1 979 500 4 404 500 3 202 500 Non-current liabilities Loan 8% 850 000 1 755 000 Current liabilities Accounts payable 87 500 78 000 Taxes SARS 92 000 62 500 Shareholders for dividends 105 000 46 000 284 500 186 500