QUESTION $1$

$(25$ Marks$)$

$\backslash$table$[[$BLUE BEN $($Pty$)$ Ltd$,,],[$PRE$-$ADJUSTMENT TRIAL BALANCE AS AT $31$ DECEMBER $2022,,],[,,],[$Balance Accounts Section,,$600000,00],[$Ordinary Share Capital,$891600,00,],[$Retained Income,$170000,00,],[$Land and Buildings,$60000,00,],[$Vehicles @ Cost,,$28000,0000],[$Equipment @ Cost,,$14000,00],[$Accumulated Depreciation: motor vehicles,,$264000,00],[$Accumulated Depreciation: equipment,,$],[$Long term loan: TB Bank $(14\%),,]]$

$\backslash$table$[[$Debentures $(13\%),,200000,00],[$Investment in BX $($Pty$)$ Ltd$,48000,00,],[$Trading Stock,$100000,00,],[$Debtors control,$128000,00,],[$Provision for bad debts,,$2560,00],[$Bank$,114260,00,],[$Creditors Control,,$54260,00],[$SARS Income tax,$35000,00,],[$Nominal Accounts Section$],[$Sales$,,1066250,00],[$Cost of sales,$603800,00,],[,18000,00,]]$

SalariesMotor expensesInterest on loanDiscount allowedCommission incomeDirectors' feesAuditor's feesDividends on ordinary sharesRepairs$120000,003450,0036960,003880,0050150,0013000,0016000,0028160,0024930,00$

Other operating assets

$45740,00$

$2486000,00$

$2486000,00$

ADJUSTMENTS AND ADDITIONAL INFORMATION.

Trading inventory according to stocktaking on $31$ December $2022$ amounted to R$99000.$

The provision for bad debts must be increased by R$1940.$

Capital repayments totaling R$24000$ are payable on the unsecured loan from TB

Bank in the next financial year.

$4.$ Depreciation must be provided for as follows:

$4\mathrm{.}1$ On vehicles at $20\%$ p$.$a$.$ using the diminishing balance method;

$4\mathrm{.}2$ On equipment at $10\%$ p$.$a$.$ on cost$.$

$5.$ A dividend of $15\%$ of the investment value has been declared by BX $($Pty$)$ Ltd$.$ The dividend has not yet been received.

$6.$ The authorised share capital consists of $600000$ ordinary shares.

Note: On $01$ July $20\mathrm{.}20,$ the company increased the ordinary share capital by selling the remaining unissued $100000$ shares at R$1$ each.

Debentures consist of $2000013\%$ debentures of R$10$ each, issued on $01$ January $2020$ and redeemable on $30$ December $2027.$ The debentures are secured by a first mortgage bond over land. Provision must be made for the current year's interest.

The income tax for the year amounted to R$30224.$

The directors declared a final dividend of $10$ cents per share.

REQUIRED:

Use the information provided above to prepare the: Statement of Comprehensive Income for the year ended $31$ December $2022.$