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 $1.$ 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. $2.$ 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. $3.$ 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. $4.$ Extractsfrom the annual financial statements of the are as follows: Statement of Financial Position at $31$ December $20122011$ R$\text{'}000$ R$\text{'}000$ EQUITY AND LIABILITIES Issued share capital $147834147834$ Retained Income $10019282275$ Equity attributable to ordinary shares $248026230109$ Name of the Examiner: Name of the Moderator: Signature of Examiner: Signature of Moderator: Date: Date: Non$-$Current Liabilities Long Term Loans $237652108297$ Current Liabilities $14814156390$ Creditors $13073244784$ Shareholdersfor dividends $1740911606$ Bank Overdraft $00$ TOTAL EQUITY AND LIABILITIES $633819394796$ ASSETS Non$-$Current Assets Property, Plant and Equipment $1606914696$ Current Assets $617750380100$ Inventory $192085149002$ Trade and other receivables $425665229633$ Cash and bank balances $01465$ TOTAL ASSETS $633819394796$ Statement of Profit and Loss and Other Comprehensive Income for the years ended $31$ December $20242023$ R$\text{'}000$ R$\text{'}000$ Turnover $1287052934052$ Operating Profit $13734281768$ Net Finance Cost $3926420862$ Operating Profit before taxation $9807860906$ Income tax expense $70273048$ Profit for the Year $910515785835022237$ Operating profit includes Depreciation and loss on sale of fixed asset Required: a$)$ Prepare the cash flows from operating activities for the company for $2024$ using the available information $(10$ Marks$)$ b$)$ Perform a financial review of the company based on calculating the following financial ratios and explain how it may be interpreted. Debt equity ratio Timesinterest earned Current ratio Debtors average collection period Inventory turnover Your answer should include an overall assessment of the company $(25$ Marks$)$ c$)$ List the audit steps to verify the existence of inventory $(10$ Marks$)$