QUESTION TWO [20] The financial statements of Gruber Limited for the year ended 31 March 2017 are presented below: Statement of Comprehensive Income (Income Statement) Sales (all credit) Cost of sales Gross profit Operating expenses Operating profit Interest expense Profit before tax Tax Profit after tax 18 600 000 (6 000 000) 12 600 000 (820 000) 11 780 000 11 740 000 (2 200 000) 9 540 000 Statement of Financial Position (Balance Sheet) ASSETS Non-Current Assets Current Assets 26 700 000 16 800 000 Inventory Debtors Bank 8 600 000 6 400 000 1 800 000 43 500 000 EQUITY AND LIABILITIES Owners Equity 40 000 000 28 000 000 12 000 000 Capital Retained Income Non-Current Liabilities Current Liabilities 1 140 000 2 360 000 Creditors 2 360 000 43 500 000