QUESTION THREE [25] The annual financial statements of Bongo (Pty) Ltd are in the final stages of completion for the year ended 30 June 2023 . The following information was extracted to prepare the statement of cash flows for the current financial year. Bongo (Pty ) Ltd Statement of financial position as at 30 June 2023 (with comparative values for 30 June 2022): Additional Information: 1 Authorised share capital: 1000000 Ordinary shares 2 Issued share capital: 100000 Ordinary shares were sold for cash during the current financial period. 3 Dividends of R30 000 were declared and paid on 20 June 2023. 4 Equipment with a carrying amount of R240 000 was sold and new equipment was purchased during the current financial year. 5 Bongo (Pty) Ltd raised a long term loan of R168 000 in May 2023. 6 The following information was extracted from the statement of comprehensive income for the year ended 30 June 2023: - Sales for the year was R1 464000 - Rental income was R26 400. - Profit on disposal of equlpment R36000 - Depreciation R48 000 - Interest expense R50 400 5 of 7 - Income tax expense R147 600 - Profit after tax R222000