\begin{tabular}{|l|r|} \hline Rent expense & 208000 \\ \hline Motor expenses & 160000 \\ \hline \end{tabular} Adjustments and additional information 1. According to physical stocktaking on 28 February 2023 , the following were on hand: 1.1 Trading inventory, R622000 1.2 Consumable stores, R2 000 . 2. Rent has been paid up to 31 March 2023. 3. A debtor who owed R6000 could not be traced. It was decided to write off his account. 4. The provision for bad debts must be increased to R14 400 . 5. Provide for the outstanding interest on the mortgage loan for the last month of the financial year. The loan balance is expected to be reduced by R60000 in the next financial year by means of monthly repayments. 6. The insurance total includes an annual premium of R12000 that was paid on 01 June 2022. 7. 8 9 10. A deblor whose account was overdue must be charged R200 interest. 11. R400 was paid from petty cash for wages to a temporary employee. No entry was made for this 12. Provide for depreciation as follows: 12.1 On equipment at 10% on cost 12.2 On vehicles at 20% per annum on the diminishing balance. 13. The net profit for the year ended 28 February 2023 , after considering the above adjustments and additional Assignment question 1 : Prepare a statement of financial position - based on the extracted information from Solera Traders. SOLERA TRADERS STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 2023 ASSETS Workings (If any) R Non-current assets Property, plant and equipment Current assets Inventories Trade and other receivables Trade debtors Cash and cash equivalents Petty cash Total assets EQUITY AND LIABILITIES Equity Capital Non-current liabilities Current liabilities Trade and other payables Trade creditors Total equity and liabilities