1 The following information was taken from the books of MLOCHIE CC on 30 June 2017, the end of the financial year: PREADJUSTMENT TRIAL BALANCE OF MLOCHIE CC ON 30 JUNE 2017 FOL DEBIT CREDIT BALANCE SHEET ACCOUNTS SECTION Members contribution: Malatji 184 500 00 Paseka 184 500 00 Vehicle 534 000 00 Accumulated depreciation: Vehicle 332 528 00 Machinery 355 668 00 Accumulated depreciation: Machinery 148 308 00 Inventory 460 956 00 Bank 20 904 00 Petty cash 1 500 00 Cash float 2 106 00 Debtors control 54 000 00 Creditors control 70 092 00 Mortgage bond: (10%) 297 000 00 Investment: VBS Bank (12%) 237 000 00 NOMINAL ACCOUNTS SECTION Sales 958 380 00 Cost of sales 257 850 00 Debtors allowances 15 750 00 Water and electricity 28 404 00 Bad debts 16 470 00 Rent income 18 768 00 Bad debts recovered 270 00 Telephone 2 418 00 Insurance 84 000 00 Discount allowed 16 404 00 Advertising 10 776 00 Interest received 13 104 00 Interest on mortgage bond 42 000 00 Consumable stores 3 204 00 Salaries 47 040 00 2 190 450 00 2 190 450 00 The following must still be taken into account: 1. Insurance has been paid until 31 August 2017. 2. The investment in VBS Bank was made on 1 January 2017. 3. Rent income includes R368 for July 2017. 4. Water and electricity has been paid until May 2017. 5. Depreciation must be provided as follows: 5.1 Vehicle at 15% per annum on the straight-line method 5.2 Machinery at 10% per annum on the diminishing balance method 6. Sales amount includes VAT of R117 696. 7. Interest on mortgage bond must be adjusted. 8. Land and building were bought for R100 000 on 1 August 2016 and was revalued on 31 May 2017 for R120 000. Both the purchase and the revaluation were not recorded. 9. Income tax is levied at 28%. REQUIRED: Use the above trial balance and information given to prepare the statement of comprehensive income of MLOCHIE CC for the year ended 30 June 2017