Answer ALL questions in this section. QUESTION 1 (20 Marks) REQUIRED Use the information provided below to prepare the Statement of Comprehensive Income for the year ended 28 February 2022 INFORMATION The trial balance, adjustments and additional information given below were extracted from the accounting records of Whetstone Stores on 28 February 2022. the and of tha finanainit. .a. Adjustments and additional information 1. According to stocktaking done on 28 February 2022, the following were on hand: 1.1 Trading inventory R240 000 1.2 Stationery R6 000 2. A deblor who was declared insolvent paid R4 200, which represenied 60. of the amount owed, it Whetstone Stores. The arrount that was received has been recorded but the ifst of his account must now be written off, 3. The provision for bad sects must be adueind to R20 000 4 Interest is cutstanding on twe ieveatinent, which was made on 01 fecruey 2021 . The maturiy dale is 3 july 2022 . 5. The iong.bem ioan from Med Bark was detained on of March 2021. A tepayment of R100000 wat made and recorded on 31 fugust 2021. Pionde for the colstanding interes histete is not capitatsed 6. An accoint bor R2 000 ta repace broken wender pares has been recolved. this has not been tecoritod and poyment was due to be made during March 2022 valie, that was takent for the perot of Decentov ze2t ro at May 2022 28 February 2022 INFORMATION The trial balance, adjustments and additional inflomation given below were extracted from the acoounting 1. According to stocktaking done on 28 February 2022, the following were on hand: 1.1 Trading inventory R240 000 1.2 Stationery R6 000 . 2. A deblor who was declared insolvent paid R4200, which represented 60K of the amount owod, 10 Whetstone Stores. The amount that was received has been recorded but the rest of his accoount must now be written off. 3. The provision for bad debts must be adjusted to R20000. 4. Interest is outstanding on the investment, which was mace on 01 Fotruay 2021 . The natirity date is 31 July 2022. 5. The longterm loan from Med Bank was obtained on of March 2021 A A rapayment of R100 000 wes made and recorded on 31 August 2021. Provide for the cutstaning interest. Wherest is not capitalised 6. An account for R2 000 to replace broken wincow pares thas been received. Ths has nod been recorded and poyment was due to be mode during March 2022 7. The advertising amount includes a contract for R30000, in respect of manticy odvertsertents of equal value, that was taken for the period o1 Decombor 2021 to 31 May 2022 8. Rent has been rocosied lor the penod 01 March 2021 to 31 March 20222 . Note: Rt was incrused 5. The longterm loan from Med Bank was obtained on 01 March 2021 . A repayment of R100 000 was made and recorded on 31 August 2021. Provide for the outstanding interest. Interest is not capitalised. 6. An account for R2 000 to replace broken window panes has been received This has not been recorded and payment was due to be made during March 2022 . 7. The advertising amount includes a contract for R30 000, in respect of monthly advert sements of aqual value, that was taken for the period 01 Decomber 2021 to 31 May 2022 8. Rent has been received for the period 01 March 2021 to 31 March 2022 . Note: Rent was increased by 10% with effect from 01 September 2021 . 9. The telephone account for February 2022 was due to be paid on 02 March 2022, R10 000 . 10. Provide for depreciation as follows: 10.1 On vehicles at 20% p.a. on the diminishing balance. 10.2 On equipment at 10% p. a on cost