Question 1 Sama Inc. has prepared the following comparative statement of financial position for 2019 and 2020 Plant assets Accumulated depreciation Patent Prepaid expenses Inventory Receivables Cash 2020 580,000 (200,000) 76,500 9,000 51,000 279,500 247,500 2019 645,000 (187,500) 88,500 18,500 90,000 58,500 20,000 45,500 Share capital - preference Share premium - preference Share capital - ordinary Retained earnings Mortgage payable Accounts payable Accrued liabilities 33.000 225,000 84,000 21,000 276,500 30,000 262,500 60,000 319,000 70,000 300,000 The income statement for 2020 is as follows Question 1 Sama Inc. has prepared the following comparative statement of financial position for 2019 and 2020 Plant assets Accumulated depreciation Patent Prepaid expenses Inventory Receivables Cash 2020 580,000 (200,000) 76,500 9,000 51,000 279,500 247,500 2019 645,000 (187,500) 88,500 18,500 90,000 58,500 20,000 45,500 Share capital - preference Share premium - preference Share capital - ordinary Retained earnings Mortgage payable Accounts payable Accrued liabilities 33.000 225,000 84,000 21,000 276,500 30,000 262,500 60,000 319,000 70,000 300,000 The income statement for 2020 is as follows