Ms$.$ Smith opened a vibrant bookstore in September $2022,$ situated in the heart of Cape Town, named "Smith's Reading Den". The bookstore has a financial yearend of $31$ August. You have been provided with a trial balance for Smith's Reading Den spanning from $1$ September $2022$ up until $31$ July $2023.$ Smith's Reading Den Trial Balance as at $31$ July $2023$: Account Debit $($R$)$ Credit $($R$)$ Bank $105000$ Inventory $($Books$)80000$ Accumulated Depreciation $$ Fixtures and Fittings $12000$ Office Supplies $($asset$)2500$ Fixtures and Fittings $50000$ Point$-$of$-$Sale $($POS$)$ System $($Asset$)30000$ Trade Receivables $35000$ Trade Payables $18000$ Accumulated Depreciation $$ POS System $15000$ Sales $647500$ Cost of Goods Sold $314000$ Salaries Expense $132000$ Utility Bills $44000$ Capital $150000$ Drawings $50000$ Total $842500842500$ During the month of August, the following transactions took place and must still be accounted for: $01$ August $2023$: Ms$.$ Smith deposited an additional R$100000$ into the business bank account. On the same day, she secured a loan of R$80000$ from a local bank. $02$ August $2023$: Signed a two$-$year lease for the shop space, costing R$20000$ per month. Ms$.$ Smith immediately paid the rent for August and an additional R$20000$ as a security deposit, totaling a payment of R$40000.03$ August $2023$: Ms$.$ Smith hired Mr$.$ Mkhize as the store manager, with an agreed monthly salary of R$22000,$ which is due on the $25$th of every month. $05$ August $2023$: Purchased books for R$65000$ cash from "Literary Distributors Inc." $06$ August $2023$: Obtained office supplies on credit, valued at R$4000,$ from "Office Essentials Ltd$."07$ August $2023$: Ordered books from "Bookworld Ltd$"$ on credit. The total cost of the books was R$95000.11$ August $2023$: Smith's Reading Den made a sale to "Elite Schools Ltd$."$ on credit, invoicing them R$40000$ for books that originally cost the store R$28000.25$ August $2023$: Mr$.$ Mkhize's monthly salary of R$22000$ for August was disbursed. $31$ August $2023$: To enhance the customer checkout experience, a new point$-$ofsale system was purchased for R$45000.$ An upfront payment of R$20000$ was made, with the remaining R$25000$ to be settled in four equal monthly instalments. $31$ August $2023$: The point$-$of$-$sales system showed a total amount of cash sales achieved during the month amounting to R$33600.$ The books that were sold had been initially acquired for R$24000.31$ August $2023$: Invested in the store's ambiance by buying bookshelves and seating arrangements, which cost R$55000$ in cash. $31$ August $2023$: Utility bills for the month, amounting to R$4500,$ were paid. $31$ August $2023$: A debtor, "Elite Schools Ltd$.",$ made a payment, settling $80\%$ of their outstanding credit amount. $31$ August $2023$: Smith's Reading Den made a payment of $75\%$ to "Bookworld Ltd$"$ as part$-$payment for the books that were previously purchased on credit. $31$ August $2023$: Smith's Reading Den had R$3500$ office supplies left that they would use in the future. REQUIRED: $1\mathrm{.}1$ Calculate the profit or loss for the month of August $2023.(10$ marks$)1\mathrm{.}2$ Assume a loss of R$27900$ was made during August $2023.$ Prepare the Statement of Financial Position for Smith's Reading Den for the financial year ending $31$ August $2023.$