You are Professional Accountant $($SA$)$ for registered accountants. A client of yours in the SME sector is speculating shares on listed company on the JSE. The detail and name of the listed company is confidential at this stage and this is the information that you have been provided with

The company was founded some years ago and operates as a chain of specialist stores selling stationery, clothing and crockery and home ware on credit.

From January $2008$ to present date, the shares have doubled in price and the market in general appears to be most impressed with the performance of the economy.

The growth in the share price has been accompanied by growth in the number of stores that have been opened or acquired through the take over of SMEs operating in the same market.

Extracts from the annual financial statements of the are as follows:

Statement of Financial Position at $31$ December

$2012$

$2011$

R$\text{'}000$

$R^{\text{'}}000$

EQUITY AND LIABILITIES

Issued share capital

$147834,147834$

Retained Income

$10019282275$

Equity attributable to ordinary shares

$248026,230109$

Current Liabilities

Creditors

Shareholders for dividends

Bank Overdraft

TOTAL EQUITY AND LIABILITIES

ASSETS

Non$-$Current Assets

Property, Plant and Equipment

Current Assets

Inventory

Trade and other receivables

Cash and bank balances

TOTAL ASSETS

$\backslash$table$[[148141,56390],[1740732,44784],[0,0],[633819,394796]]$

$16069,14696$

$\backslash$table$[[617750,380100],[192085,149002],[425665,229633],[0,1465]]$

$633819,394796$

Statement of Profit and Loss and Other Comprehensive Income for the years ended $31$ December

$\frac{5}{12}$

$\backslash$table$[[,2024,2023],[,R^{\text{'}}000,R^{\text{'}}000$