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The equity of SMS Ltd as on December 31, 2019 is as follows: Share Capital (@ Rs. 10 fully paid ordinary shares) 3,000 Share premium

The equity of SMS Ltd as on December 31, 2019 is as follows: Share Capital (@ Rs. 10 fully paid ordinary shares) 3,000 Share premium 1,900 Retained earnings 4,500 Profit for the year 400 Dividends declared and paid (300)

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