QUESTION $1$

$(20$ Marks$)$

REQUIRED

Use the information given below to complete the following financial statements:

$1\mathrm{.}1$ Statement of Comprehensive Income for the year ended $29$ February $2024.$

$1\mathrm{.}2$ Statement of Financial Position as at $29$ February $2024.($Show the workings in

brackets next to the relevant details.$)$

Note: Some of the amounts have already been entered in the answer book.

INFORMATION

The following trial balance, adjustments and additional information were extracted from the records of Aerostat

Traders for the financial year ended $29$ February $2024$: