Darowd chop. The following homilaw provided 39.1000 28 020 Lopath31 Domber 20120. Poptyp- od quipment tool (delionlnom tlon 1) Torlaumulated depredation at 1 January 2020 Fixed deposit Third Bank Inventory: Irade goods.. Trade debtons 100 000 117 000 10 400 600 106 200 1 200 283 400 Allowance for credit loses. Bankiu. Cash font Capital Zizu. Drawings Long term borrowing: OLM Finance. Trade creditors 26 490 50 000 19 100 753 580 Sales 2.400 Sales retums Page 3 of 8 300 Bana income, Betlement discounts received 10 000 Interest on investment Credit lesses recovered bos osales 40 330 800 100 Credit losses Packing materials used Inside 100 3800 Telephone Advertisements 1000 Settlement discounts granted GO Other expenses 10200 Additional Information: 1. The following information is available for Property, plant and equipment Type of Property, plant and equipment Cost at 31 Dec. 2020 - Accumulated Depreciation at 1 Jan. 2020 -R R Land & buildings 300 000 NIA Vehicle 80 000 22 400 Equipment 18 000 3 420 Equipment at cost - R18 000: includes equipment bought for cash at a cost of R4 000 on 1 July 2020. Provide depreciation for the year for all property, plant and equipment as follows: Equipment: 10% per year on the diminishing balance method. 20% per year on the diminishing balance method. Vehicle : 2. Results of a physical stock taken on 31 December 2020 revealed that: 2.1 Trading goods on hand was R114 500, and 2.2 Packing material on hand was R1 960. 3. Advertisement cost of R4 000 is exclusively for an advertising campaign covering the period 1 May 2020 to 28 February 2021. 4. Rental income was received from Zizu's only tenant. The rent includes the January 2021 rental. Rent remained constant over the full period. 5. The long tem borrowing was taken on 30 September 2020. Interest is payable every 6 months at a rate of 18% per year. 6. Interest on the fixed deposit at Third Bank has not yet been received for November 2020 and December 2020. Interest is calculated at 12% per year. 7. Insurance includes an amount of R1 500 paid for a 12 month period ending on 31 October 2021. 8. The December 2020 telephone account of R330 has not yet been recorded. 9. A debtor's account of R1 000 has long been outstanding. The debtor's insolvent estate paid 60% of the debt. The balance needs to be written-off. 10. It was agreed that the "allowance for credit losses" account needs to be adjusted to show a balance of only R500. Required: Prepare the following for Zizu's General Dealers for the financial year ending 31 December 2020: 2.1 (25) 2.2 The statement of profit or loss and other comprehensive income, and Prepare the columns for only Vehicles and Equipment as they would be shown in the Property, plant and equipment note. Columns for land & buildings and total are not required. (5 Show all workings. Your answer must comply with the requirements of the International Financial Reporting Standards (IFRS) appropriate to this business