Question 4 (29) The following information was taken from the books of Grave Products on 28 February 2022, the last day of the financial year of the entity Partial trial balance of Grave Products on 28 February 2022 Fol. Debit (R) Credit (R) Statement of financial position Capital B1 367 583 Drawings 82 72 400 Land and buildings 83 700 000 Equipment B4 150 000 Accumulated depreciation Equipment 35 875 Trading Inventory - 1 March 2021 BS 38 500 Bank B6 62 940 Petty cash B7 1 750 Vehicles B8 320 000 Accumulated depreciation: Vehicles 28 900 Trade receivables B10 84 210 Trade payables B11 41 980 Long-term loan 478 000 012 Additional Information: 1. According to the physical stocktake, trading Inventory of R65 480 was on hand on 28 February 2022. 2. Create an allowance for credit losses to the amount of R3 390. 3. Provide for depreciation as follows: . On vehicles at 15% per annum, using the diminishing balance method. . On equipment at 25% per annum on cost. 4. The tenant moved into the building on 1 August 2021. The rent for March 2022, RS 650, has been prepaid. 5. An amount of R1 850 was prepaid on the telephone account 6. Write an amount of R188 still owed by a debtor, Mr Carat, off as Irrecoverable. 7. The February 2022 salary of an employee, C Jacob, is still due to be paid out to her, R6 500 8. The long-term loan bears Interest at 12% per annum. The interest for the last six months has not yet been taken into account. 9. The amount for advertising, R17 000, relates to a payment made for radio broadcasts during the period 1 December 2021 to 31 March 2022. 10.Profit for the year AFTER all adjustments have been made amounts to R381 969. Reguleed Draft a statement of financial position as at 28 February 2022. Ignore VAT. Show all your calculations