4 (25 marks) The following information relates to Tanda Bantu Traders. The financial year ends on 30 June. Statement of Comprehensive Income for the year ended 30 June 2022. Sales 940 000 Cost of sales (420000) Gross profit 520 000 Total Other income 48 000 Rent income 48 000 Gross income 568 000 Operating expenses (321300) Salaries 240 000 Repairs 7 400 Telephone 1 500 Stationery 1 300 Bad debts 600 Electricity and water 4 500 Insurance 7 000 Bank charges 5 000 Depreciation 54 000 Operating Profit 246 700 interest on fixed deposit 5 500 Interest on loan (26 000) Net Profit for the year 226 200 Additional information 1. The average monthly sales are expected to