$15$:$20$ regentonline.ac$.$zaThe trial balance of Nixit Ltd was prepared by the junior bookkeeper for the financial year ended $31$August $2023.$AccountDebitCreditMunicipal charges$26800$Telephone and communication$23400$Rental expenses$39000$Credit losses$1500$Interest received$14400$Consulting charges$495000$Sale of goods$1548000$Cost of sales$630000$Printing and stationery$22800$Director fees$28000$Salaries and wages$215000$Interest on loan$12000$Penalties and fines$1500$Cleaning fees$6400$Computer expenses$4800$Capital$110000$Retained income$25800$Creditors control$52000$Computer equipment$198000$Accumulated depreciation on computer equipment$59800$Investment property$3$Allowance for credit losses$23000$Inventory: Raw material$54800$Inventory: Stationery$14000250000$Accumulated depreciation on motor vehiclesOffice equipmentAccumulated depreciation on office equipment$10\%$ Loan InvestmentCheque account: FNB$1590001850001674002563500340001418002563500$Additional information:$($a$)$ Depreciation has not been recorded on property, plant and equipment. Motor vehicles are depreciated on the reducing balance method at $20\%.$ Computer equipment of R$85000$ was purchased on $1$ February $2023,$ replacing older items initially purchased for R$48000$ on $1$ November $2019.$ Office equipment of R$27000$ was purchased on $31$ December $2022.$Computer equipment and office equipment depreciates on the straight$-$line basis at $25\%$ and $10\%$ respectively.$($b$)$ Mr$.$ Roy returned faulty goods of R$8100.$ Nixit Traders applies a $50\%$ markup on finished products.$($c$)$ The company allows a $2,5\%$ discount for accounts settled within $30$ days. Mrs$.$ Redkin purchased goods of R$58000$ on a $30-$day account on $1$ August $2023.$ The account was paid on $27$ August $2023,$ but the bookkeeper neglected to record the discount in all affected accounts.$($d$)$ The water and electricity account of R$1500$ was received on $21$ September $2023.($e$)$ Artwork of R$2500$ was donated to Nixit Limited but not recorded.$(1)$ Professional work completed but not yet invoiced at year$-$end amounts to R$5000.(9)$ A delivery truck was purchased on $1$ December $2022$ for R$120000$ with an estimated residual value of R$35000.$ No vehicles were sold during the year.$($h$)$ Rental for September $2023$ was paid on $12$ August $2023.($i$)$ The company is taxed at $28\%.$Required:Prepare the Statement of Comprehensive Income of Nixit Limited for the year ended $31$ August$2023.$ Detail all calculations.