The following financial information relating to the company is presented: Rands Liabilities at year-end 401 000 Contributed capital at year-end 600 000 Retained income at beginning of the year 980 000 Revenue during the year 3 200 000 Expenses during the year 2 140 000 Income tax Charged at 28% Required: 2.1 Calculate the accounting value of the assets at year-end, based on the information above. (10) Clearly show the formula/method used to calculate the assets value