Question 4 (46 marks) You are given the following information from the books of Beauty Investments for the year ended 31 July 2015. Trial Balance Debit Credit Capital 385,000 Drawings 35,000 Vehicles 227,500 Equipment 192,500 Accumulated depreciation on vehicles 45,500 Accumulated depreciation on equipment 21,000 Fixed deposit (10% p.a.) XYZ Bank 84,000 Loan 30,000 Debtors 5,600 Inventory 26,320 Bank 27,510 Creditors 29,680 Sales 103,065 Purchases 41,500 Returns outwards 8,610 Carriage inwards 5,000 Returns inwards 5,180 Rent income 25,200 Salaries 3,080 Insurance 770 Repairs 1,960 Water and electricity 1,815 Bad debts 1,680 Discount allowed 140 Discount received 300 Commission received 11,200 659,555 659,555Page 14 of 14 Adjustments: 1. Final inventory on 31 July 2015, N$34 000. 2. Provide depreciation for vehicle using 15% on cost method and 20% on equipment using reducing balance method. 3. The account of debtor P Shilomboleni, of N$ 700 must be written off. 4. Rent for August 2015 and September 2015 has already been received. 5. Water and electricity for one month still outstanding N$ 165 6. Interest on fixed deposit for the year is still receivable. You are required to: 1. Prepare the Statement of Comprehensive Income (Income Statement) for the year ended 31 July 2015. 2. Prepare the Statement of Financial Position (Balance Sheet) as at 31 July 2015.