The following items are extracted from Matta Engineering statement of financial position for the period ended 2022. What is the total equity for the period? ￡38,800 ￡6,300

## Step 1: Calculate Total AssetsTo find the 'equity', we first need to determine the 'total assets'. In the given statement, assets are 'Plant and Equipment', 'Inventories', 'Property', and 'Trade receivables'. Let's add them up:### ### ## Step 2: Calculate Total LiabilitiesNext, let's calculate 'total liabilities'. The liabilities in the given statement are 'Trade payable', 'Short-term borrowings', 'Overdraft', 'Long-term borrowings', and 'Mortage'. Adding these will give us 'total liabilities':### ### ## Step 3: Calculate EquityEquity can be calculated using the equation: ### As previously determined, plug in the equivalent values of 'Total Assets' and 'Total Liabilities'. Hence, that will give us our desired 'Equity' figure.