(a) From the above information, prepare the statement of financial position of Budgie Limited indicating clearly the shareholders’ funds and working capital.

(b) Comment on the capital position disclosed by the statement of financial position you have prepared.

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Non-current assets, at cost Inventory Bank overdraft Ordinary share capital Accounts payable Retained profits Accumulated depreciation Accounts receivable 000 160 40 30 100 45 22 50 47