Statement of Financial Position as at 31 December: Assets Non-current assets Inventories Accounts receivable Cash Equity and liabilities Ordinary share capital Retained earnings Long-term loan Accounts payable Income tax payable Additional information 2024 2023 R R 980 000 780 000 1 300 000 1 000 000 388 000 310 000 184 000 147 000 2 852 000 2 237 000 704 000 563 000 816 000 680 000 420 000 330 000 900 000 655 000 12 000 9 000 2 852 000 2 237 000 1. All purchases and sales of inventories are on credit. The purchases for the year ended 31 December 2024 amounted to R2 500 000.