The following additional information is available:

(a) Inventory as at 31 May 2013 has been valued at cost at Rs.42,000,000.

(b) There are accrued wages and salaries of Rs.800,000.

(c) Other operating expenses are prepaid by Rs.300,000.

(d) The allowance for doubtful debts is to be adjusted so that it is 2% of trade receivables.

(e) Depreciation for the year ended 31 May 2013 should be provided for as follows:

Land and buildings 1.5% per annum on cost, using the straight-line method.

Equipment 25% per annum, using the reducing balance method.

Gross Profit

Cost of goods sold

Depreciation expense total

Net profit

total assets

Equity

Total current liabilites

Total Ling term liabilities