Ethekwini Tennis Club presents you with the following information for the year ended 31 March 2015: 1. Cash received during the year: Members fees Sale of tennis balls Hiring out tennis courts Sale of refreshments Entrance fees 2. Cash payments for the year: Wages Purchases of tennis balls Purchases of tennis balls Repairs to the tennis courts Construction of tennis court Nets purchased R 12 300 2 400 4 020 10 500 300 4.500 8 700 2 100 1260 9 000 2 100 3. Current assets and current liabilities as at: 31 March 2014 31 March 2015 R R Cash in the bank Inventories: Tennis balls Refreshments 6 900 8 760 540 960 600 780 Payables for refreshments 480 660 Membership fees receivable 720 600 Membership fees received in advance 300 A The carrying amount of the tann Membership fees received in advance 300 4. The carrying amount of the tennis courts was R21 000 on 31 March 2014. The new tennis court was completed on 30 September 2014. Depreciation at 10% per annum on the carrying amount of the nets. 5. The nets were purchased on 1 April 2014. The carrying amount of the old nets was R1 200 on that date. Depreciation must be written off at 20% per annum on the carrying amount of the nets. 6. According to the founding agreement, members have decided that entrance fees should be capitalised. REQUIRED: 3.1 Prepare the Statement of Income and Expenditure of Ethekwini Tennis Club for the year ended 31 March 2015. 3.2 Prepare the Statement of Changes in Equity of Ethekwini Tennis Club for the year ended 31 March 2015. (15) (15)