Answer AlL the questions that follow. [100 MARKS] QUESIION 1 (20 Marks) REQUIRED Use the information provided below to answer the following questions: 1.1 Prepare the Statement of Comprehensive income for the year ended 31 December 2021. (18 marks) 12 Comment on the profitability of the company. (2 marks) INFORMATION The following information was extracted trom the accounting records of Danone Limited on 31 December 2021, the end of the financial year. Additional information 1. A debtor who was declared insolvent paid Danone Limited R1 500 which represented 60% of the amount owed. This has been recorded. The balance of the account must now be written off. 2. The provision for bad debts must be decreased to R18 000. 3. Trading inventory according to stocktaking on 31 December 2021 amounted to R1 000000. 4. Stationery used during 2021 amounted to R9000. 5. The municipal rates were paid for the period 01 January 2021 to 31 January 2022. The rates were increased by R1 000 per month with effect from 01 January 2022. 6. Depreciation must be provided for as follows: 6.1 On vehicles at 25% per annum using the reducing balance method; and On equipment at 10% per annum on cost. 6.2 The debentures were issued on 01 July 2021. Provide for the outstanding interest. 7. The insurance account includes a premium of R9 000 that was paid for the period 01 April 2021 to 31 March 2022. 8. An invoice was received from Apex Carriers for transporting goods to customers, R5 000 . No entry has been made for this. 9. The water and electricity account for December 2021 was due to be paid on 02 January 2022 , R6 000 . 10. The income tax (company tax) for 2021 amounted to R341 530