Manitoba $($Pty$)$ Ltd manufactures and sells Manita Herbal Teabags as a healthy product. The company is based in South Coast, KwaZulu$-$Natal, has a $31$ December financial year end and applies International Financial Reporting Standards. The draft results of operations for the year ended $31$ December $2022$ is shown below: R Sales $2400000$ Rent income $150000$ Dividend income $600000$ Profit on sale of vehicle $300000$ Cost of sales $(900000)$ Depreciation $(450000)$ Interest on expense $(360000)$ Other expenses $(240000)$ Dividends declared $(30$ June $2021)(660000)$ Profit for the period $840000$ Retained earnings: $(1$ January $2021)180000$ Retained earnings: $31$ December $20211020000$ Additional information: $$ The deferred tax balance at the beginning of the year was R$126000($debit$),$ whereas the deferred tax balance at the end of the year is R$68400($debit$).$ Other expenses are allocated to the entity$$s core functions as follows: $$ Administration: $20\%$ Distribution: $30\%$ Other: $50\%$ All amounts are considered material $$ The normal tax rate is $30\%$ and $$ The inclusion rate for purposes of capital gains is $50\%.$ The following balances have been extracted from the $2021$ closing balances appeared in the trial balance at $31$ December $2022$: $$ Expenses prepaid $(31/12/2021)$ R$45000$ Rent income received in advance $(31/12/2021)$ R$30000$ Rent income received in advance at $31$ December $2022$ R$24000$ Income received in advance is taxed in the year of receipt. $$ Expenses prepaid at $31$ December $2022$ totalled R$21000.$ Expenses prepaid are deductible for tax purposes in the year in which they are paid. Other than the processing of provisional tax payments made during $2022$ which totalled R$540000,$ no other journal entries have yet been processed regarding tax expense. $$ The tax assessment for the year $2021$ was received during August $2022.$ It reflected an amount of R$144000$ for the assessed normal tax on taxable profit for $2021.$ The total tax expense in the statement of comprehensive income in $2021$ was disclosed as R$294000,$ which was made up of current normal tax of R$156000$ and deferred normal tax of R$138000.$ No journal entries have yet been processed to take into account any adjustments that may be necessary. $$ A vehicle with a carrying amount of R$2100000$ and tax base of R$1950000$ was sold during $2022.$ Its original cost was R$2250000.$ The base cost of this asset is R$2280000.$ Wear and tear of R$810000$ was granted as a deduction in $2022$ by the tax authorities. $$ There are no other differences between accounting profit and taxable profit other than those evident from the information given. $$ There are no components of other comprehensive income. REQUIRED: QUESTION $1[30$ MARKS$]$ In accordance with IAS $12$ Income tax: a$.$ Prepare all the journal entries relating to the manufacturing of Manitoba $($Pty$)$ Ltd for the year ended $31$ December $2022.(14)$ NB: $($Show calculations$).$ b$.$ Prepare the Statement of Profit or Loss and Other Comprehensive Income of Manitoba $($Pty$)$ Ltd for the year ended $31$ December $2022(8)$ c$.$ Prepare the tax expense note to be included in the annual financial statement of Manotoba $($Pty$)$ Ltd for the year ended $31$ December $2022,$ in accordance with, International Financial Reporting Standards and Companies Act of $2008.$