QUESTION 3 (20 Marks) REQUIRED Use the information provided below to prepare the following for the financial year ended 28 February 2023:

3.1 Statement of Net Investment of Partners (12 marks)

3.2 Current a/c: Stan in the general ledger. Note: The partners drawings must be transferred to his current account. Balance the account. (8 marks)

INFORMATION Extract from the ledger of Stanger Traders on 28 February 2023 R R Capital: Stan 600 000 Capital: Gerald 400 000 Current a/c: Stan (01 March 2022) 30 000 Current a/c: Gerald (01 March 2022) 20 000 Drawings: Stan 300 000 Drawings: Gerald 200 000 The following must be considered: (a) On 28 February 2023 the Statement of Comprehensive Income reflected a net profit of R600 000. (b) The partners are entitled to interest at 12% p.a. on their capital balances. Note: Stan increased his capital contribution by R100 000 on 01 June 2022 whilst Gerald decreased his capital balance by R100 000 on 31 August 2022. This capital changes have been recorded. (c) The partners are entitled to the following monthly salaries: Stan R10 000 Gerald R8 000 The partners salaries were increased by 10% with effect from 01 December 2022. (d) Stan is entitled to a bonus equal to 10% of the net profit before any of the above appropriations have been considered. (e) The remaining profit/shortfall must be shared between Stan and Gerald in the ratio 3:2 respective