Task 1 The following information is related to Shenton Limited and ION Private Limited. Statement of Financial Position as at 31 December 2021 Assets Non-Current Assets Shenton $ ION $ Property, plant, and equipment Investment in ION Pte Ltd Total Non-Current Assets Current Assets Closing inventories 3,390,000 2,400,000 2,850,000 6,240,000 2,400,000 1,080,000 540,000 Account receivables 960,000 660.000 Cash at bank 30,000 600,000 Total Current Assets 2,070,000 1,800,000 Total Assets 8,310,000 4.200,000 Equity and Liabilities Equity Ordinary share capital 1,200,000 600,000 Retained earnings 6,180,000 3,150,000 Shareholders' fund 7.380,000 3,750,000 Current Liabilities Account payable 630,000 300.000 Bank overdraft 300,000 150,000 Total Current Liabilities 930,000 450.000 Total Equity and Liabilities 8,310,000 4,200,000