1. The following is a list of the assets and claims of Iota Industries as at 30 September last year:
   • Trade payables: $90,000
   • Motor vehicles: $42,000
   • Long-term borrowing (loan from Industrial Finance Bank): $275,000
   • Equipment and tools: $235,000
   • Short-term borrowings: $125,000
   • Inventories: $155,000
   • Property: $345,000
   • Trade receivables: $195,000

Required:

(a) Prepare the statement of financial position of the business as at 30 September last year from the information provided, using the standard layout. (Hint: There is a missing item that needs to be deduced and inserted.)

(b) Evaluate the company's investment efficiency revealed by this financial statement