Nandoni wholesalers Ltd is in the process of finalizing the business plan for $2025.$ The financial controller has a just finalized the preparation of their Statement of comprehensive income as part of the pack of Annual report for the period ended $31$ March $2024.$

Draft Statement of comprehensive Income for Nandonin Wholesalers for period ended $31$ March $2024$

Revenue $25,637,000$

Cost of Sales $(12,867,000)$

Gross profit $12,770,000$

Operating Expenses $(6,174,000)$

Admin costs $3,524,000$

Distribution costs $1,885,000$

Selling costs $765,000$

Profit before tax $6,596,000$

Tax $($@$27\%)(1,780,920)$

Net profit for the period $4,815,080$

You have been requested to support the managerial finance executive in preparing the $2025$ budget using the percentage of sales method

The company expects all percentages to remain constant except that:

i$)$ They expect administration costs to increase by an extra R$1000000$ due to the leasing of a new administrative building.

ii$)$ During the period ended $2024,$ the company incured a was a once$-$off distribution cost of R$500000$ as a placement fee for having a secured a new distribution channel.

iii$)$ This new distribution channel is expected to have a notable increase in the company$$s growth.

Iii$)$ They expected turnover to be R$40000000$ for the year.

Requirement: $(14$ Marks$)$

Prepare the $2025$ budgeted Statement of comprehensive Income using the appropriate method.