REQUIRED Prepare the Pro Forma Statement of Financial Position as at 31 December 2023 from the Statement of Financial Position and additional information provided below: INFORMATION The financial position of Gatti Limited as at 31 December 2022 is reflected the following statement: Additional information The following must be taken into account for 2023 : - Sales are forecast at R60 000 000, with a profit margin of 10% and a gross margin of 30%. Fifty percent (50%) of the sales is expected to be for cash and the balance is on credit. - The debtor collection period is expected to be 36.5 days. - All purchases of inventories are expected to be on credit and are estimated to total R48000 000. The creditor payment period is estimated to be 73 days. - Equipment with a cost price of R8000000 is expected to be purchased on 01 July 2023. Total depreciation is expected to be R800 000 for the year. - The maturity dates of the fixed deposits are as follows: R80000 01 May 2023 R120000 31 May 2025 - The loan balance is expected to be reduced by R60000. - The directors are expected to recommend a final dividend of R4 000000 , payable during 2024 . - Abank balance of 1% of sales is desired. - Ordinary share capital will remain unchanged. - The amount of external non-current funding required must be calculated (balancing figure). REQUIRED Prepare the Pro Forma Statement of Financial Position as at 31 December 2023 from the Statement of Financial Position and additional information provided below: INFORMATION The financial position of Gatti Limited as at 31 December 2022 is reflected the following statement: Additional information The following must be taken into account for 2023 : - Sales are forecast at R60 000 000, with a profit margin of 10% and a gross margin of 30%. Fifty percent (50%) of the sales is expected to be for cash and the balance is on credit. - The debtor collection period is expected to be 36.5 days. - All purchases of inventories are expected to be on credit and are estimated to total R48000 000. The creditor payment period is estimated to be 73 days. - Equipment with a cost price of R8000000 is expected to be purchased on 01 July 2023. Total depreciation is expected to be R800 000 for the year. - The maturity dates of the fixed deposits are as follows: R80000 01 May 2023 R120000 31 May 2025 - The loan balance is expected to be reduced by R60000. - The directors are expected to recommend a final dividend of R4 000000 , payable during 2024 . - Abank balance of 1% of sales is desired. - Ordinary share capital will remain unchanged. - The amount of external non-current funding required must be calculated (balancing figure)