4.2 REQUIRED Determine the External Funding Needed by Preparing a Pro Forma Statement of Financial Position as at 31 December 2021 from the information given below. INFORMATION The financial position of Tshidiso Limited as at 31 December 2020 appears below: (14 Marks' Statement of Financial Position as at 31 December 2020 Operations for 2021 were projected using the following working assumptions: - All sales are on credit and are expected to amount to R6000 000 . - The profit margin (net profit margin) is expected to be 10%. - Equipment costing R100 000 is due to be purchased in June 2021. - Depreciation is expected to be R130000 for the year. - 8000 shares at R7 each are expected to be purchased from UJM Limited. - Inventories are expected to be 8% higher than in 2020. - Accounts receivable are expected to amount to 25% of credit sales. - A cash balance of R200000 is desired. - Dividends for the year are estimated at R165000 and these are payable in 2022 - Mortgage loan repayment amounting to R380000 (excluding interest) is expected to be made during 2021 - Accounts payable are forecasted to be 20% of sales. - 12000 new ordinary shares are issued at R22 per share through right issue. - Other current liabilities will be expected decrease to R541400 4.2 REQUIRED Determine the External Funding Needed by Preparing a Pro Forma Statement of Financial Position as at 31 December 2021 from the information given below. INFORMATION The financial position of Tshidiso Limited as at 31 December 2020 appears below: (14 Marks' Statement of Financial Position as at 31 December 2020 Operations for 2021 were projected using the following working assumptions: - All sales are on credit and are expected to amount to R6000 000 . - The profit margin (net profit margin) is expected to be 10%. - Equipment costing R100 000 is due to be purchased in June 2021. - Depreciation is expected to be R130000 for the year. - 8000 shares at R7 each are expected to be purchased from UJM Limited. - Inventories are expected to be 8% higher than in 2020. - Accounts receivable are expected to amount to 25% of credit sales. - A cash balance of R200000 is desired. - Dividends for the year are estimated at R165000 and these are payable in 2022 - Mortgage loan repayment amounting to R380000 (excluding interest) is expected to be made during 2021 - Accounts payable are forecasted to be 20% of sales. - 12000 new ordinary shares are issued at R22 per share through right issue. - Other current liabilities will be expected decrease to R541400