Calculate the increase in the retained earnings over the two-year period.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Orbit Limited :
2022 | 2021 | |
Non-current Assets | R11 810 000 | R7 560 000 |
Property, Plant, Equipment | R10 025 000 | R6 250 000 |
Investments | R1 785 000 | R1 310 000 |
Current Assets | R4 190 000 | R4 690 000 |
Inventories | R 1 875 000 | R2 350 000 |
R1 925 000 | R2 200 000 | |
Cash | R390 000 | R140 000 |
Toatal Assets | R16 000 000 | R12 250 000 |
Equities & Liabilities |
Equity | ? | ? |
Oridanary share capital | R5 480 000 | R3 680 000 |
? | ? | |
Non-current Liabilities | R4 500 000 | R3 800 000 |
Loan (20% p.a) | R4 500 000 | R3 800 000 |
Current Liabilities | R2 300 000 | R1 500 000 |
Accounts payable? | R2 300 000 | R1 500 000 |
Calculate the increase in the retained earnings over the two-year period.
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