QUESTION TWO (20 marks in total...2 parts to the question) Comparative statement of financial position data for Shalu Ltd on 30 June 2013 and 2012 are presented below. Shalu Ltd Comparative Statement of Financial Position as at 30 June Description 2013 2012 Current assets S S Cash at bank (16 700) 74 600 Accounts receivable 127 200 111 300 Inventory 275 000 221 200 Prepaid expenses 22 800 23 000 408 300 430 100 Property, Plant and Equipment Buildings 639 000 339 000 Accumulated depreciation-buildings (111 400) (97 600) Equipment 361 200 331 200 Accumulated depreciation- equipment (89 900) (67 000) Land 168 000 39 000 966 900 544 600 Long Term Investments 70 000 160 000 Total Assets $1 445 200 $1 134 700 Current Liabilities S S Bills payable (Trade) 45 000 50 000 Accounts payable 170 000 168 000 Accrued expenses 10 500 14 000 Current tax liability 26.000 24 000 251 500 256 000 Non-current liabilities Loan payable 240 000 150 000 Debentures due 1/9/2014 300 000 200 000 540 000 350 000 Total liabilities 791 500 606 000 Equity $ $ Share capital 502 100 388 Retained earnings 151 600 140 600 Total equity $653 700 Total liabilities and equity 1. $1 445 200 2900 100 $528 700 $1 134 700 160000 16 (22060 1577 13710