REQUIRED INFORMATION Prepare the Pro-Forma Statement of Comprehensive Income for the year ending 31 Dec 2023 Statement of Financial Position for the year ended 31 December 2022 Prepare the Pro-Forma Statement of Financial Position for the year ending 31 Dec 2023 Non-current assets \begin{tabular}{|r|l|l|l|} \hline \multicolumn{3}{|l|}{} & \\ \hline Additional information A The sales budget for 2023 is as follows: & \\ \hline First Quarter & Second Quarter & Third Quarter & Fourth Quarter \\ \hline R2 625000 & R2 750000 & R2 875000 & R2 750000 \\ \hline \end{tabular} Property, plant and equipment Current assets Inventories Accounts receivable B. 90% of sales-collected in the quarter of the sale and 10% in the quarter following the sale Cash C. The gross margin ratio for 2023 is expected to be the same as 2022 . TOTAL ASSETS D. Inventory is purchased in the quarter of the expected sale. 80% of inventory purchases is paid for in the quarter of purchase and 20% is paid for in the quarter following the purchase. EQUITY AND LIABILITIES E. The inventories balance at the end of each quarter is expected to be the same as the end of the last quarter of 2022 viz. R1 600000 . F. Variable selling and administrative expenses will be the same as for 2022 and will include annual depreciation of R160 000 on property, plant and equipment. G. On 31 December 2023 an old equipment originally costed R180 000 and accumulated depreciation of R150 000 will be traded-in for new vehicle. The new vehicle will cost R400000 and the trade-in value of the old vehicle is expected to be R50000. H. The proprietor's drawings for 2023 are estimated to be R1 527000 . I. The cash balance (bank) must be calculated. \begin{tabular}{|l|r|} \hline Statement of Comprehensive Income for the year ended 31 December 2022 \\ \hline Sales & R \\ \hline Cost of sales & 10000000 \\ \hline Gross profit & (5750000) \\ \hline Variable, selling and administrative costs & 4250000 \\ \hline Fixed selling and administrative costs & (1500000) \\ \hline Net profit & (500000) \\ \hline \end{tabular}