You have been provided with the following extracts of the financial statements of Provision Ltd for the year ended 31 December 2018. Statement of financial position for the year ended 31 December 2018 Non-current assets Current assets Inventories Trade receivables Cash Total assets Note 2018 2017 1 S 328,000 $ 286,000 S 170,000 $ 170,000 SSS 90,000 $ 110,000 62,000 $ 55,000 18,000 $ 5,000 S 498,000 $ 456,000 Equity and Liabilities Shareholders equity and reserves $ 418,000 $ 290,000 Contributed equity (ordinary shares) $ 170,000 $ 110,000 Retained income S 198,000 $ 130,000 Preference shares - $ 50,000 $ 50,000 Non-current liabilities Loan Current liabilities Trade payables Dividends payable Inland Revenue Total equity and liabilities $ 100,000 80,000 $ 66,000 SS S 48,000 $ 44,000 $ 12,000 $ 10,000 20,000 $ 12,000 $ 498,000 $ 456,000 Extract from the statement of profit and loss for the year ended 31 December 2018: Gross revenue Cost of sales Net profit before taxation Taxation Net profit for the year S 375,000 S 217,000 $ 158,000 $ 73,000 $ 85,000