QUESTIONTWO The pre-adjustment lial balanee of XYZ Limitod is presented as follows: [4;] Conaumables purchased during March 2023 of R6 COO was posted to the cont of sales acoount by the bookkeeper. The stock count concluded on 3f Varch 2023 valued the consumable inventory on R4200. 6. Ordinary shares trades at R2 each. Al reporting date, the thareholders declared a divdenc 5c. A prospectus offering 60000R2 ordinary shares and 10000R10 preference shares wa advertised during March 2028 . Mrs. Finch entered into an underwiter's agreement with X Limited for an agreed 3,6% fee. 6. The allowance for credit losses should equal 8% of the debtor's book alteporting date. Required: 2.1 Prepare the Statement of Comprehensive inceme as at 31 March 2023 based on the reporting requirements of the International Financial Reporting Siandards. 22. Define with examples where appleable each of the following accouning concepisilerms: 2.1.1 Accounting 2.1 .2 Curment liabily 2.1.3 Curmentasset 2.1.4 Net asset value 2.1.5 Accounting policy 2.3 Diseuss the accounting cycle