Question $1(12$ Marks$)$

Kim Stationers $($Pty$)$ Limited is a stationer based in Kimberley, Kim Stationers has a two$-$monthly VAT period ending on the last day of March and a financial year ending on the last day of February. The company is owned by Ms Kim Bali a South African resident. Kim is not a personal service provider as defined in the Income Tax Act. Kim has shares in Vodacom Limited, A company listed on the JSE, she has no other equity interests in any other companies.

Below is an extract of the income statement of Kim Stationers

$\backslash$table$[[$Sales$,$R$17900000],[$Dividend income,R$2000000],[$Net Profit,$15000000]]$

Required

Discuss whether Kim Stationers are is a small business corporation as defined $(12$ Marks$)$