Question 2 NON-TRADING ORGANISATIONS (10 marks) The following information has been extracted from the accounting records of HERITAGE SPORTS CLUB for the year ended 31 December 2018.10.08 . Required: Prepare the Statement of Income for the year ended 31 December 2018. Information: A. Extract from the Pre-adjustment Trial Balance on 31 December 2018. Accounts Credit Debit Membership Fees 53 400 Entrance Fees 4 000 Affiliation Fees Bank Charges Rent Expense Maintenance Wages Insurance Consumables Tennis Balls Golf balls 3 000 580 16 500 8 120 2 200 6 400 2 300 4 400 3 500 Refreshment Purchases 16 200 Refreshment Sales 30.600 Events Income 35 000 Events Expenses Donation income 12 500 13 000 B. Additional information 1. The constitution stipulates the following in respect of fees: Entrance fee of R500 per member, of which 80 % must be capitalised. Membership fees of R300 per member per annum. o 2. The club had 180 members in 2018. 3. An honorarium of R1 500 to be awarded to the secretary / treasurer of the club. Rent of R1 500 per month is payable. Provide for any outstanding rent. 4. 5. Club equipment must be depreciated by R13 500. 6. Stocks on hand on 31 December 2018 are as follows: Tennis balls, R900 Consumables, R200