The following information pertains to Brilliant CC: EXTRACT FROM THE STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 2020 2019 ASSETS R R Non-current assets 54 000 50 000 Property, plant and equipment 54 000 50 000 Current assets 38 400 36 000 Inventories 12 400 10 200 Trade receivables (Trade debtors) 10 000 10 400 Other financial assets 12 000 14 000 Cash and cash equivalents. 4 000 1 400 Total assets..... 92 400 86 000 EQUITY AND LIABILITIES Total equity Members' contributions Retained earnings 77 054 52 000 25 054 69 800 47 200 22 600 Total liabilities Non-current liabilities.... Long-term borrowings 16 346 6 200 6 200 16 200 4 200 4 200 Current liabilities. Trade and other payables (Trade creditors). Current tax payable. 10 146 8 000 2 146 12 000 10 000 2 000 EXTRACT FROM THE STATEMENT OF PROFIT/LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 28 FEBRUARY 2020 R Revenue 162 000 Cost of sales (133 000) Gross profit 29 000 Other income 6 600 Distribution, administrative and expenses (28 800) Finance costs interest on long-term loans) Profit before tax 6 400 Income tax expense (2 146) Profit for the year 4 254 Other comprehensive income for the year Total comprehensive income for the year 4 254 (400) 36 Additional information: 1. Depreciation for the year amounted to R2 700 2. Other income consists of a R6 000 profit made on the sale of shares on the JSE and a dividend income of R600. 3. No other investments were made during the year. An interim profit distribution of R2 800 was paid during the year. 5. The additional membership contributions were made in cash. 6. An additional long-term loan of R2 500 was acquired; repayments on the existing loan amounted to R500 for the year. 7. No property, plant or equipment was sold during the year, one computer had to be replaced and was paid for in cash QUESTION 7 Which one of the following alternatives represents the net cash generated from/used in operations in the statement of cash flows of Brilliant CC for the year ended 28 February 2020? 1. R(1 300) 2. R(300) 3. R2 500 - 4. R6 400 QUESTION 8 Which one of the following alternatives represents the net cash flow from/used in investing activities amount in the statement of cash flows of Brilliant CC for the year ended 28 February 2020? 1. R4 000 2. (R4 000) 3 R6 700 4. (R6 700) 1 37 QUESTION 9 Which one of the following alternatives represents the net cash flow from/used in financing activities amount in the statement of cash flows of Brilliant CC for the year ended 28 February 2020? 1. R6 800 2. R7 300 3. R4 800 4. R5 800 QUESTION 10 Which one of the following alternatives represents the cash and cash equivalents at the end in the statement of cash flows for the year ended 28 February 2020 of Brilliant CC? 1. R1 400 2. R2 600 3. R4 000 4. R4 400 END OF ASSIGNMENT 02 - SECOND SEMESTER