Prepare the Pro Forma Statement of Comprehensive Income of Adel Traders for the period 01 November 2018 to 31 December 2018. Note: Ensure that your statement has separate monetary columns for each month (November and December). Where applicable, rounded off amounts to the nearest Rand. INFORMATION The following information was provided by Adel Traders: STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 OCTOBER 2018 R Sales 1 968 000 Cost of sales 787 200 Gross profit 1 180 800 Other operating income 100 800 Rent income 100 800 1 281 600 Operating expenses 766 800 Salaries and wages 504 000 Telephone 19 200 Electricity and water 54 000 Insurance 36 000 Bank charges 28 800 Depreciation 108 000 Other operating expenses 16 800 Operating profit 514 800 Interest on fixed deposit 10 800 Interest on loan 76 800 Net profit for the year 448 800 VV 6 Additional information 1. The average monthly sales are expected to: * decrease by R24 000 November 2018; * increase by 20% during December 2018. 2. The existing gross percentage on sales (gross margin) will be maintained. 3. The rental is to be increased on 01 December 2018. The new rental agreement is expected to reflect an annual rental of R108 000. 4. The investment in fixed deposit was made on 01 November 2016 and it matures/expires on 31 January 2019. 5. The balance in the loan account was R460 000 on 01 November 2018. Monthly repayments of R20 000 plus interest (18% p.a.) are expected to be made at the end of each month. 6. Salaries and wages are expected to increase by 10% with effect from 01 December 2018. 8. Depreciation, calculated according to the straight-line method, is expected to amount to R132 000 for the year ended 31 October 2019. 9. All other expenses are expected to increase by 10%. These expenses are spread evenly throughout the year.