Question 3 (20 Marks) Prepare the Statement of Comprehensive Income for the year ended 28 February 2022. INFORMATION The trial balance, additional information and adjustments given below were extracted from the records of Metro Limited for the financial year ended 28 February 2022.METRO LIMITEDPRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 2022Debit (R) Credit (R Balance sheet accounts section Ordinary share capital 2 200 000Retained earnings608 000Land and buildings at cost 2 300 000Equipment at cost 1 060 000Vehicles at cost880 000Accumulated depreciation on equipment440 000Accumulated depreciation on vehicles 220 000Trading inventory 210 000Debtors contro65 000Provision for bad debts15 000Bank overdraft 70 000Rent income 112 000Municipal rates 90 000 8 836 000 8 836 000ADDITIONAL INFORMATION AND ADJUSTMENTS 1. According to physical stocktaking, the following were on hand on 28 February 2022: 1.1 Trading inventory R200 000 1.2 Stationery R3 000 2. Advertising includes a payment of R6 000 for six advertisements at R1 000 each that will be published monthly from January 2022 and June 2022. 3. Part of the building has been let to a tenant since 01 March 2020. Rent has been received up to 31 January 2022. Note: The rental increased by 10% on 01 December 2021. 4. On 28 February 2022 an amount of R1 200 was received from a debtor who was only able to pay 60% of his debt. The balance of his account must be written off. No entries were made for these transactions.5. The provision for bad debts must be increased to R18 0006. Directors fees amou7. The loan from Ria Bank was obtained on 01 February 2022. Provide for the outstanding interest on loan8. A notice from the municipality indicated that the municipal rates for the year ended 28 February 2022 was calculated at R50 per R1 000 of the value of the land and buildings. Make the necessary adjustment.9. Provide for depreciation as follows:9.1 On vehicles at 20% per year using the diminishing balance method. 9.2 On equipment, R106 0000. Based on the taxable income of the company, an amount of R6 114 is owed by the tax authority (South African Revenue Services) to Metro Limited for company tax.