Question 22 of 27 3.0 Points On 1 April 20.17 Trak Traders took up an insurance contract with Blue Sky Insurers for 24 months. The insurance policy was effective with immediate effect and stipulated that all premiums for a year (a period of 12 months starts from 1 April each year) are due by 1 April each year. An extract from the list of balances of Trak Traders at year-end, reflected the following balances: | 28 February 20.19 | 28 February 20.18 | Premiums paid during the year ended | *R17 472 | *R15 996 | *payments for 12 months *payments for 12 months The amount for insurance premiums and the short-term adjustment to be disclosed in the financial statements of Trak Traders will be Statement of profit or loss and other comprehensive income for the year ended 28 February 20.19 | Statement of financial position as at 28 February 20.19 | R18 805 | R1 333 | Statement of profit or loss and other comprehensive income for the year ended 28 February 20.19 | Statement of financial position as at 28 February 20.19 | R17 472 | R2 789 | Statement of profit or loss and other comprehensive income for the year ended 28 February 20.19 | Statement of financial position as at 28 February 20.19 | R17 349 | R1 456 | Statement of profit or loss and other comprehensive income for the year ended 28 February 20.19 | Statement of financial position as at 28 February 20.19 | R16 016 | R1 456 | Statement of profit or loss and other comprehensive income for the year ended 28 February 20.19 | Statement of financial position as at 28 February 20.19 | R17 472 | R1 333 | |