Use the following financial data to prepare the proforma Statement of financial position of Plexicoring as at 31 December 2020. INFORMATION A financial manager at Plexicor Inc. has gathered financial data needed to prepare a proforma statement of financial position for the coming year ending 31 December 2020 Sales for 2020 is estimated to be R7, 500 000 Trade and other receivables represent 12 percent of Sales Inventory represents 24 percent of sales New equipment with a cost price of R900 000 will be purchased during 2020. Total depreciation for 2020 is estimated to be R500 000 Trade and other payables represent 18 percent of sales R150 000 shares are expected to be issued at R2 each during the first quarter of 2020 The business predicts at 10 percent profit margin (net profit margin) Dividends amounting to 400 000 ate expected to be declared at the end of 2020 and are payable during 2021 The long term loan is estimated to be reduced by 10 percent during 2020 The amount of cash and cash equivalent must be determined (balancing figure) The statement of financial position for the year ended 31 December 2019 is as follows Plexicor inc Rands Statement of financial position as at 31 December 2019 . Assets Non current assets Fixed or tangible assets 4 100 000 4 100 000 Current assets Inventories Trade and other receivables Cash and cash equivalents Total 2 900 000 1 800 000 900 000 200 000 7 000 000 Equity and liabilities Equity Ordinary share capital Retained earnings 4 600 000 3 300 000 1 300 000 Non current liabilities Long-term loan 1 000 000 1 000 000 Current liabilities Trade and other payables Total equity and liabilities 1 400 000 1 400 000 7 000 000