Answer ALL the questions in this section. QUESTION 1 (20 Marks) INFORMATION: Sebata Limited Statement of Comprehensive Income for the year ended 31 December 2023 Activate Wir Activate Wir Go to settunas to Additional information: 1. Sales for 2024 is expected lo increase to R1 540000 . 2. The gross profil percentage for 2024 wil be the same as in 2023. 3. Other expenses will increase by 10% 4. The company will pay company laxation in 2024 at 27%. 5. The company will purchase plant and machinery in 2024 totaling R200 000. Depreciation for 2024 will total R92 000. 6. The following wil be projected using the percentage of sales method in 2024 : a. Inventories b. Accounts receivable c. Accounts payabie 7. The cash balance will femain unchanged for 2024 . B. 200000 ordinary shares wil be issued at R1 each in February 2024. 9. R20 000 of the long-term loan will be payable by December 2025. 10. The amount owing to South African Revenue Services on 31 December 2023 will be paid in February 2024. The Iaxation payable for 2024 wil be paid in March 2025 11. Dividends of 20 cents per ordinary share will be declared on 31 December 2024. These dividends will be paid in February 2025. 12. Any surplus funds will be invested in long term frinancial invesiments. REQUIRED: 1.1 Compile the budgeted Statement of Comprehensive Income of Sebata Limited for the year ended 31 (6 Marks) Dectember 2024 1.2 Compile the budgeted Statement of Financial Position as at 31 December 2024 (14 Marks)