SSF Limiteds Statement of comprehensive income for the year ended 30 September 2019. 2019 2020 Revenue 1 000 000 R 1 700 000 Less: Cost of sales 400 000 1 000 000 Gross profit 600 000 700 000 Less: Operating expenses Selling expense 50 000 R 70 000 General and administrative expenses 60 000 120 000 Lease expense 10 000 40 000 Depreciation expense 50 000 100 000 Less: Total operating expense 170 000 R 330 000 Profit from operations (EBIT) 430 000 370 000 Less: Finance cost 120 000 70 000 Net profit before tax R 310 000 R 300 000 Less: Income tax expense 93 000 90 000 Profit for the year R 217 000 R 210 000

SSF Limiteds Statement of financial position as at 30 September 2019. 2019 2020 ASSETS Non-current assets Plant and equipment 1 050 000 1 200 000 Property and machinery 800 000 850 000 Furniture and fixtures 220 000 300 000 Vehicles 80 000 100 000 Other non-current assets 50 000 50 000 Total gross non-current assets (at cost) 2 200 000 2 500 000 Less: Accumulated depreciation 1 200 000 1 300 000 1 000 000 1 200 000 Current assets Inventory 900 000 600 000 Trade receivables 500 000 400 000 Cash 500 000 1 000 000 1 900 000 2 000 000 TOTAL ASSETS 2 900 000 3 200 000 EQUITY & LIABILITIES Equity Share capital 600 000 600 000 Retained earnings 500 000 600 000 Total equity 1 100 000 1 200 000 Non-current liabilities Long-term borrowings 400 000 600 000

Current liabilities Trade payables 500 000 700 000 Short-term borrowing 700 000 600 000 Accruals 200 000 100 000 1 400 000 1 400 000 Total equity and liabilities 2 900 000 3 200 000

Do a budget for 2021.