QUESTION 1 FINANCIAL STATEMENTS OF A SOLE PROPRIETORSHIP (20) Use the information given below to prepare the Statement of Financial Position of Anele Traders as at 28 February 2018. The notes to the financial statements are not required. INFORMATION Extract from the accounting records of Anele Traders on 28 February 2018 after the Statement of Comprehensive Income was drawn up. R Consumable stores on hand 4 000 Accrued expenses 12 000 Prepaid expenses 2 000 Cash float 6 000 Bank (CR) 30 000 Fixed deposit: EFT Bank 100 000 Capital (01 March 2017) 1 000 000 Drawings 480 000 Loan: EFT Bank 200 000 Property, plant and equipment 1 178 000 Creditors control 160 000 Debtors control 40 000 Accrued income 8 000 Income received in advance 16 000 Trading inventory 140 000 Additional information that must be taken into account: According to the Statement of Comprehensive Income, the net profit for the year ended 28 February 2018 amounted to R540 000. The proprietor took R6 000 trading goods for his personal use after stocktaking was done but this has not been recorded. Payments amounting to R36 000, including interest of R12 000, will be made to EFT Bank towards the loan in the next financial year. Sixty percent (60%) of the fixed deposit matures on 31 May 2018 and the balance matures on 31 May 2019.