accounting

You are the financial accountant at Textile (Pty) Ltd. Textile (Pty) Ltd is a clothing manufacturer and retailer situated in the Western Cape. You have been provided with the following extracts from the trial balances of Textile (Pty) Ltd for the financial years ended 30 June 2023 and 30 June 2022. Electricity: The electricity expense of R12 000 which relates to the 2022 financial year was paid during 2023 and arose in 2023 after the auditors found an underpayment of electricity relating to 2022. The expense was not recorded during 2022. The amount is material to Textile (Pty) Ltd. The South African Revenue Services agreed to re-open the 2022 tax assessment. The tax rate has remained unchanged at 28%. REQUIRED: Using the Excel template provided together with your knowledge of Excel formulas and functions: - Prepare only the retained earnings column in the statement of changes in equity of Textile (Pty) Ltd for the financial year ended 30 June 2023 in accordance with International Financial Reporting Standards. Comparative figures are not required. (refer to the SCE tab) Marks will be awarded as follows: > Computation of profit or loss for the year (6 marks) > Retained earnings column in the statement of changes in equity, including comparative figures (7 marks) > Presentation, communication, and use of excel (1 mark)