part a)

Strategic Marine Ltd, an importer of nautical equipment, supplies maritime companies with An inexperienced accountant who was recently tired produced the following equipment Balances at 1 January 2020 55000 Non-current assets alco 400 Accumulated depreciation Prepaid general expenses 10 Inventory 45 Trade receivables Trade payables 120 A summary of its bank account for the last 4 months ended 30 Apri 2020 is provided Jan Feb Mar Recanis 5000 5000 5000 3000 Cash sales 84 Credil sales ee 228 252 234 Disposal of non-current assets 15 Long term loan 110 422 330 287 Payments Payment for credit purchases 120 350 210 85 General expenses 29 45 30 Dividends 20 27 169 240 112 Net cash flow (3) 90 175 Opening balance 85 58 55 145 Closing balance 58 55 145 78 78 30 Additional information 2. 3. 25% of monthly sales are cash sales and credit sales are on one month's credit tems Purchases are on one month's creditems. Inventory of $130 000 was bought on credit on 18 April 2020. The long term can which was taken on 1 February 2020, bears an interest rate of exper annum Depreciation is provided for on the cost of all non-current assets at 2% per month. Non-current assets costing $75 000 with an accumulated depreciation of $65000 was sold in April. No depreciation is provided in the month of sale. An Inventory count on 30 April revealed inventory costing S90 000. 4. 5. REQUIRED Prepare an income statement for Strategic Marine ud for the four months ended 30 April 2020 (61