The following balances appeared in the asset register of Oxford Ltd on 01 July 2019: Land and buildings 150 000 Vehicles at cost 60 000 Accumulated depreciation: Vehicles (31 000) Machinery at cost 33 000 Accumulated depreciation: Machinery (10 000) Furniture at cost 22 000 Accumulated depreciation: Furniture (8 000) The following rates and methods of depreciation apply: Land and buildings- no depreciation Vehicles- 20% per annum using the straight line method Machinery- 20% per annum using the diminishing balance method Furniture- 10% per annum using straight line method The following transactions took place during the year: 1. Erf no. 7, Oxford Villa, with building, was bought in 2015 2. On 31 December 2019, a delivery vehicle with an original cost of N$ 18 000 was sold for N$ 7 500, on 01 July 2019, the accumulated depreciation of the vehicle amounted to N$ 11 000. 3. On 31 January 2020, a new machine with a cost price of N$ 30 000 was purchased. 4. No purchases or sales of non-current assets were made during the previous year. Requirements: 1. Prepare the extracted statement of financial position as at 30 June 2020 to comply with the requirements of IFRS and Companies Act 28 0f 2004. 2. Disclose the following notes to comply with the requirements as required by IFRS and Companies Act 28 of 2004: 2.1 Statement of compliance (basis of presentation) 2.2 Summary of significant accounting policies 2.3 Property, plant and equipment