Question 1.1 Question 1. Fill in the green blocks The trial balance for Metorex (Pty) is provided below. Use Template 1 in the spreadsheet provided to do the following: 1. Prepare an income statement (8 marks) 2. Prepare a balance sheet (12 marks) Income statement Sales Cost of sales Balance sheet ASSETS Non-current assets Gross Profit Current assets Expenses Land & buildings Machinery Furniture & Fittings Accounts receivable/Debtors Inventory Petty cash Bank Shares Retained earnings Long term loan Vehicle lease Accounts payable/Creditors Sales COS - materials COS-Wages Salaries Advertising Rent Utilities Legal fees Sales commissions Stationery DR CR Rands 860 000 221 625 310 687 1 125 000 1 425 187 10 000 253 12 1 000 000 560 800 800 000 320 000 413 800 2 316 929 447 563 195 469 184 781 122 906 50 156 27 000 52 313 107 438 18 279 EQUITY & LIABILITIES Capital & reserves DR CR Rands 860 000 221 625 310 687 1 125 000 1425 187 10 000 253 125 1 000 000 560 800 800 000 320 000 413 800 2 316 929 447 563 Net Profit Non-current liabilities S 411 529 5411 529 Land & buildings Machinery Furniture & Fittings Accounts receivable/Debtors Inventory Petty cash Bank Shares Retained earnings Long term loan Vehicle lease Accounts payable/Creditors Sales COS - materials COS-Wages Salaries Advertising Rent Utilities Legal fees Sales commissions Stationery Current liabilities 195 469 184 781 122 906 50 156 27 000 52 313 107 438 18 279 End of document 5 411 529 5411 529