Read the following case study and answer the questions that follow: FINANCIAL STATEMENTS In response to appeals made by the government to assist in reducing unemployment and contributing towards skills development Lineker Ltd decided to offer learnerships in the field of accounting. You are one of the persons who was interviewed for a learnership position in the company. After the interview, as part of the second step in the selection process, you were asked to complete two financial statements. The following information was given to you: The list of balances provided below, which were extracted from the accounting records on 31 December 2022 (the end of the financial year), did not consider any of the following year-end adjustments: Physical stocktaking on 31 December 2022 revealed trading inventory of R140 000 and stationery of R2 000. Notices from the municipality reflected the rates assessment for the years ended 30 June 2022 and 30 June 2023 to be R30 000 and R36 000 respectively. Depreciation must be provided on vehicles at 20% per annum using the reducing balance method and on equipment at 10% per annum on cost. It must be noted that a vehicle which cost R200 000 was purchased on 01 July 2022 and the purchase has been recorded. A debtor who was declared insolvent was only able to pay R1 200 (already recorded), which represented 40% of the amount that she owed. The balance of her account must now be written off. The insurance total includes an insurance premium of R4 800 that was paid for the period 01 April 2022 to 31 March 2023. An amount of R24 000 was owed for directors' fees and was due to be paid on 02 January 2023. The provision for bad debts must be increased to R4 200. Provide for interest on debentures that is yet to be paid. The company tax calculation based on the profit for the year revealed that an amount of R20 008 was owed to South African Revenue Services. The following list of balances were obtained from the ledger of Lineker Ltd on 31 December 2022 before the above year-end adjustments were considered: Read the following case study and answer the questions that follow: FINANCIAL STATEMENTS In response to appeals made by the government to assist in reducing unemployment and contributing towards skills development Lineker Ltd decided to offer learnerships in the field of accounting. You are one of the persons who was interviewed for a learnership position in the company. After the interview, as part of the second step in the selection process, you were asked to complete two financial statements. The following information was given to you: The list of balances provided below, which were extracted from the accounting records on 31 December 2022 (the end of the financial year), did not consider any of the following year-end adjustments: Physical stocktaking on 31 December 2022 revealed trading inventory of R140 000 and stationery of R2 000. Notices from the municipality reflected the rates assessment for the years ended 30 June 2022 and 30 June 2023 to be R30 000 and R36 000 respectively. Depreciation must be provided on vehicles at 20% per annum using the reducing balance method and on equipment at 10% per annum on cost. It must be noted that a vehicle which cost R200 000 was purchased on 01 July 2022 and the purchase has been recorded. A debtor who was declared insolvent was only able to pay R1 200 (already recorded), which represented 40% of the amount that she owed. The balance of her account must now be written off. The insurance total includes an insurance premium of R4 800 that was paid for the period 01 April 2022 to 31 March 2023. An amount of R24 000 was owed for directors' fees and was due to be paid on 02 January 2023. The provision for bad debts must be increased to R4 200. Provide for interest on debentures that is yet to be paid. The company tax calculation based on the profit for the year revealed that an amount of R20 008 was owed to South African Revenue Services. The following list of balances were obtained from the ledger of Lineker Ltd on 31 December 2022 before the above year-end adjustments were considered