QUESTION 2 Use the relevant information from the transactions of KL Stores provided below to answer the following questions: 2.1 Prepare the Statement of Comprehensive Income for the month ended 30 September 2022. (14 marks) 2.2 Calculate the value of liabilities as at 30 September 2022. (2 marks) 2.3 Prepare the Statement of Changes in Equity for the month ended 30 September 2022. (4 marks) INFORMATION 01 02 Date Transactions of KL Stores for September 2022 The proprietor, K. Lewis, commenced business by depositing R300 000 into the bank account of the business. A loan of R100 000 was also obtained from Hip Bank to supplement the capital contribution. An electronic funds transfer was made to MP Wholesalers for the purchase of equipment, R25 000, and inventory for resale, R70 000. 03 Paid the monthly rental of R10 000. 05 Purchased stationery for R1 000 cash. 08 13 14 Paid the insurance premium to Miway Insurers, R2 000. K. Lewis, the proprietor, withdrew R5 000 cash from the bank account of the business for his private use. Cash sales to date amounted to R30 000 (Cost of sales R20 000). 15 Inventory purchased on credit from Hip Wholesalers amounted to R40 000. 18 Sold goods on account to P. Williams for R9 000. The goods were sold at cost plus 50%. 22 Sold shoes on behalf of a manufacturer and received a commission of R5 000. 25 Paid salaries to the employees, R15 000. Paid the telephone account, R1 000. 26 Sold goods on credit to K. Rahul at a mark-up of 50% on cost. The cost price of the goods was R5 000. 28 P. Williams settled her account (see 18th) subject to a 5% early settlement discount. 29 Paid the water and electricity account, R2 500. 30 Received R2 000 rent from a tenant for part of the premises that was sub-let. Paid Hip Wholesalers R10 000 in part-settlement of account. Cash sales to date, R45 000 (cost of sales R30 000).