The following are extracts from the Statement of Comprehensive Income of Lilliput's Travels CC as well as the Statement of Financial Position of Lilliput's Travels CC for the financial year ended 30 June 2022: Statement of Financial Position as at 30 June 2022 ASSETS Non-current assets Land at cost Vehicles (carrying value) Furniture (carrying value) Investment: Fixed deposit 7% pa. Current assets Inventory Trade receivables Cash and cash equivalents Total assets EQUITY AND LIABILITIES Members' interest Members contributions Retained earumgs (Note 1) Total equity Non-current liabilities Long-term loans from members Current Liabilities Trade payables Distributions to members payable Income tax payable Bank overdraft Total Habilities Total equity and Habilities An extract of the Statement of Comprehensive Income for the year ending 30 June 2022: Profit before taxation Income tax expense for the year 1 345 600 (376 768) 968 832 Net profit for the period Note I Retained earnings 2022 2021 4 703 500 6149 200 10 1 500 000 2 250 000 1253 500 200 000 2 723 000 1 328 000 1395 000 2 350 500 1398 700 900 000 1 862 600 814 100 965 500 183 000 8 011 800 7 426 500 5 486 000 4 990 100 4 163 000 3 255 100 1 323 000 5 486 000 1 000 500 1 000 500 940 000 348 000 279 000 237 000 76 000 1 735 000 4 990 100 925 000 1925 000 2 096 700 1337 000 362 000 397 700 1940 500 3 021 700 7 426 500 8 011 800 Balance as at 1 July 2021 Net profit for the period Distributions to members for the year (declared) Balance as at 30 June 2022 1735 000 968 832 (1 380 832) 1323 000