QUESTION 2 - 15 marks The following information of Shaggy River Rafters was supplied to you for December 2017: Capital Drawings Sales Sales return TTM200T/TRF205D/ CLR200T/ ECQ200T - ASSIGNMENT 4 3 R 120 600 35 000 440 000 4 100 Purchases Purchases return 232 000 2 800 Railage on purchases 8 900 Settlement discount granted 1 160 Settlement discount received 2 660 Inventory (1/1/2017) 20 000 Inventory (31/12/2017) 24 000 Rent expense 21 600 Telephone Rent income Salaries and wages 3 050 18 000 112 600 Water and electricity 6 600 Additional information 1. Shaggy River Rafters pays rent of R1 500 per month. 2. Shaggy River Rafters receives rent of R3 000 per month. YOU ARE REQUIRED TO: 1. Prepare the Trading Statement to determine the GROSS PROFIT - 5 marks Shaggy River Rafters Trading Statement for the year ending 31 December 2017 Net Sales Less: Cost of sales Goods available for sale R 8