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Question One and Two are based on the information provided below for Mia Limited:

INFORMATION:

In December $2023,$ Mia Limited was planning its financial needs for the coming year. As a first indication, the

firm's management required a pro forma Statement of Financial Position as at $31$ December $2024$ to gauge the

financial needs at that time. The financial condition as at $31$ December $2023$ was reflected in this Statement of

Financial Position:

Statement of Financial Position as at $31$ December $2023$

ADDITIONAL INFORMATION: QUESTION ONE $(25$ Marks$)$ REQUIRED $1\mathrm{.}1$ Use the information provided to Prepare the pro forma Statement of Financial Position as at $31$ December $2024.(20)1\mathrm{.}2$ Discuss the purpose of projected financial statements in business planning and decision$-$making, highlighting their significance for managerial decision$-$making, investor relations, and strategic planning. $(5)$ Operations for the following year were projected using the following working assumptions to plan the financial results: $$ Sales were forecast at R$20900000.$ Capital expenditures were scheduled at R$42000$ for a delivery van and R$72000$ for warehouse improvements. $$ Depreciation is expected to be R$62800$ for the year. $$ Inventories, Accounts receivable and Accounts payable are estimated to be $10\%,4\%$ and $6\%$ of sales respectively. $$ Cash balances are desired to be no less than R$300000.$ Net profit after tax is expected at a level of $0\mathrm{.}19\%$ of sales. $$ Dividends for the year were estimated at R$25000.$ A mortgage loan repayment of R$20000$ is expected to be made. $$ Other current liabilities will be allowed to fluctuate with seasonal needs

REQUIRED $1\mathrm{.}1$ Use the information provided to Prepare the pro forma Statement of Financial Position as at $31$ December $2024.$