Question 2 Krisnan has been in business as a sole trader since 1 May 2021. He has prepared the draft statement of comprehensive income shown below and has asked you to check if it is correct. Draft statement of comprehensive income for the year ended 30 April 2022 RM RM Sales 97,600 Purchases 46,840 Rent 15,000 Electricity 4,800 Telephone 2,750 Returns inward 954 Carriage and delivery 1,846 Wages 31,580 Other expenses 839 104,609 Trade discounts on purchases (1,523) 103,086 Loss for year (5,486) Additional information: Closing stock cost RM6,378. This includes damaged items which cost RM1,564. These could be repaired for RM375 and then sold for RM1,820. The figure for rent is the total paid in the year to 30 April 2022. Five equal payments were made for the three months periods commencing on: 1 May 2021. 1 August 2021. 1 November 2021. 1 February 2022 and 1 May 2022. 3/- Carriage and delivery comprise RM1,428 for carriage on goods received and RM418 for delivering goods to customers. The charge for wages is made up of RM28,000 paid to Krisnan and RM3,580 paid to a part-time employee. Required: Prepare Krisnans corrected statement of comprehensive income for the year to 30 April 2022, clearly showing both gross profit and net profit. (15 marks)

Krisnan has been in business as a sole trader since 1 May 2021. He has prepared the draft statement of comprehensive income shown below and has asked you to check if it is correct. Mroft ctatamant of onmnrohancivo innamo far tho voor andod 2n Anril no? Additional information: - Closing stock cost RM6,378. This includes damaged items which cost RM1,564. These could be repaired for RM375 and then sold for RM1,820. - The figure for rent is the total paid in the year to 30 April 2022. Five equal payments were made for the three months periods commencing on: 1 May 2021. 1 August 2021. 1 November 2021. 1 February 2022 and 1 May 2022. 33/ 3 BBM205 - Carriage and delivery comprise RM1,428 for carriage on goods received and RM418 for delivering goods to customers. - The charge for wages is made up of RM28,000 paid to Krisnan and RM3,580 paid to a part-time employee