QUESTION 2 [20 MARKS} REQUIRED Use the information provided below to prepare the Statement of Changes in Equity of Samson Traders for the year ended 23 February 2023. INFORMATION The information given below was extracted from the accounting records of Samson Traders, a partnership business with Sammy and Son ny as partners. The financial year end s on the last day of Febniary each year. Balances in the led ner on 23 Februa 2023 Debit [R1 Creditor Capital: Sammy 1 200 000 - 300 000 50 000 l_- The following must be considered: The net profit acoording to the Profit and loss account amounted to R1 200 000 on 23 Febniary 2023. la} {b} The partnership agreement makes provision for the following: I l | 100000 Interest on capital must be provided at 15% per an num on the balances in the capital accounts. The partners are entitled to the following monthly salaries: Sammy: R25 000 Son ny: R30 000 Sammy is entitled to a special bonus equal to 10% of his annual salary. Sammy and Sonny share the remaining prots or losses in the ratio of their capital balances at the end of the year. QUESTION 4 (20 MARKS) REQUIRED Study the information provided below and prepare the Cash Flow Statement for the year ended 31 December 2022 INFORMATION The following information was extracted from the records of Zenith Limited: STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER: 2022 (R) 2021 (R) Sales 3 712 000 2 400 000 Cost of sales (2 560 000) 1 500 000) Gross profit 1 152 000 900 000 Operating expenses 582 400) (424 000) Depreciation 60 000 52 000 Other operating expenses 522 400 372 000 Operating profit 569 600 476 000 Interest on mortgage loan (48 000) (144 000) Profit before tax 521 600 332 000 Company tax (180 480) (1 16 200) Profit after tax 341 120 215 800 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER: 2022 (R) 2021 (R) ASSETS Non-current assets 4 928 320 4 888 000 Property, plant and equipment 1 928 320 4 888 000 Current assets 712 000 672 000 Inventories (all Trading inventory) 240 000 500 000 Trade and other receivables 30 000 28 000 Cash and cash equivalents 392 000 44 000 5 640 320 5 560 000 EQUITY AND LIABILITIES Equity 4 875 120 3 960 000 Ordinary share capital 4 360 000 3 520 000 Retained income 515 120 140 000 Non-current liabilities (Mortgage loan, 12%) 400 000 1 200 000 Current liabilities 365 200 400 000 Trade and other payables 96 000 276 000 Company tax payable 17 200 12 000 Dividends payable 52 000 112 000 5 640 320 5 560 000 OAdditional information i 320 000 shares were in issue at the end of 2021. 60 000 new shares were issued on the first day of the 2022 financial year. Interim and final dividends for the year ended 31 December 2022 amounted to R266 000. Vehicles were sold at canying [book]: value during the year for R233 000. Equipment was purchased at the end of the financial year. All purchases of trading inventory are on credit. Trade and other payahIes comprise accounts payable only