Study the scenario and complete the questions that follow: Gross Income You are an article clerk at a Johannesburg audit firm in their taxation department. At a recent cocktail function, you were approached by an audit partner to give him some advice on a tax issue on one the clients he has to deal with. The following is an extract of the conversation between you and the partner: Partner: I have a client called Sam, who owns an antique shop. On 12 December 2022, an elderly gentleman entered Sam's store and found an antique statuette he had spent his whole life searching for. The price of the statuette amounted to R34 000. The elderly man did not have sufficient money with him to settle the purchase price immediately, so Sam and the old man made an arrangement on that very day. In terms of the arrangement, the man granted Sam a guarantee for R20 000 , to be paid in 3 months on 12 March 2023 and settled the remainder of the purchase price by trading in his walking stick. The walking stick was an antique item of sorts and had a market value of R17 000 at the time. As security for the guarantee, the man left his gold Rolex watch with Sam, under the condition that it would be returned to him after the remaining debt of R20 000 was settled. The watch had an estimated market value of R30 000 at the time. The man left the store with the statuette and at the end of February it remains to be seen whether the amount will be paid or not. Sam is uncertain of how to treat this transaction for income tax purposes-in the above cituation. You: I will write you a memo with my opinion on the matter as soon as I am back in the office on Monday. Sourde: University of Presoria, 2013. You are required to write a memo to the partner, in which you discuss what amount, if any, should be included in Sam's gross income, by discussing the above situation with reference to the definition of 'gross income' and case law. (15 Marks)