REQUIRED

Use the information provided below to prepare the Statement of Comprehensive Income for the year ended $28$ February $2023.$

INFORMATION

FIESTA TRADERS

PRE$-$ADJUSTMENT TRIAL BALANCE AS AT $28$ FEBRUARY $2023$

Balance Sheet accounts section

Capital

Drawings

Land and buildings

Vehicles at cost

Equipment at cost

Accumulated depreciation on vehicles

Accumulated depreciation on equipment

Fixed deposit: Rio Bank $(10\%$ p$.$a$.)$

Trading inventory

Debtors control

Provision for bad debts

Bank

Cash float

Creditors control

Mortgage loan: Rio Bank $(12\%$ p$.$a$.)$

Nominal accounts section

Sales

Cost of sales

Sales returns

Salaries and wages

Bad debts

Stationery

Rates and taxes

Motor expenses

Repairs to building

Telephone

Electricity and water

Bank charges

Insurance

Interest on mortgage loan

Interest on fixed deposit

Rent income

$\backslash$table$[[$Debit $($R$),$Credit $($R$)],[2520000],[160000,],[1800000,],[1360000,],[1000000,],[760000],[320000],[300000,],[230000,],[260000,],[16000],[134000,],[12000,],[220000],[640000],[3000000],[960000,],[20000,],[838000,],[24000,],[40000,],[116000,],[180000,],[34000,],[76000,],[92000,],[16000,],[40000,],[66000,],[12000],[270000],[7758000,7758000]]$

Adjustments and additional information

Stocktaking on $28$ February $2023$ revealed the following inventories:

$1\mathrm{.}1$ Trading inventory R$220000$

$1\mathrm{.}2$ Stationery R$4000$

The telephone account for February $2023,$ R$6000,$ was due to be paid on $01$ March $2023.$

A debtor who was declared insolvent paid R$900$ which represented $30\%$ of her debt. The balance of her account must now be written off.

The provision for bad debts must be decreased to R$14000.$

Rent has been received up to $31$ March $2023.$ Note: The rental was increased by R$2000$ per month with effect from $01$ November $2022.$

The insurance total includes an annual premium of R$15000$ that was paid for the period $01$ June $2022$ to $31$ May $2023.$

Provide for outstanding interest on the mortgage loan for February $2023.$

Provide for the outstanding interest on fixed deposit. The investment in fixed deposit was made on $01$ September $2022.$

A payment for the annual service of a motor vehicle was not recorded, R$5000.$

Provide for depreciation as follows:

$10\mathrm{.}1$ On equipment at $10\%$ p$.$a$.$ on cost$.$

$10\mathrm{.}2$ On vehicles at $20\%$ p$.$a$.$ using the diminishing balance method. Note: A vehicle with a cost price of R$360000$ was purchased