REQUIRED Use the information provided below to prepare the Statement of Financial Position of Umbilo Traders as at 28 February 2023. The Statement of Comprehensive Income and notes to the financial statements are not required. The workings or adjustments made to the accounts must be shown in the appropriate column provided. INFORMATION The trial balance and additional information given below were extracted from the accounting records of Umbilo Traders on 28 Februarv 2023, the end of the financial year. Adjustments and additional information 1. On 28 February 2023 an amount of R20 000 was received from Weimer Distributors for commission on goods sold for them. No entry was made for this transaction. 2. Trading inventory according to stocktaking on 28 February 2023 amounted to R315 000. 3. Stationery valued at R4000 was donated to a pre-school. This was not recorded. 4. Interest on fixed deposit has been received until 31 August 2022. Provide for the outstanding interest. The fixed deposit matures on 01 March 2025. Interest is not capitalised. 5. Provide for the outstanding interest on loan. The loan was obtained from Namib Bank on 01 March 2022 and repayments will only commence from March 2023. An amount of R180 000 (excluding interest) is expected to be paid during the financial year ended 28 February 2024. Interest is not capitalised. 6. Included in the insurance total is an amount of R12 000 that was paid for fire insurance for the period 01 December 2022 to 30 November 2023. 7. The water and electricity account for February 2023 was due to be paid on 02 March 2023, R25 000 . 8. Rent has been paid for the period 01 March 2022 to 31 March 2023. The rental amount was unchanged during this period. 9. The bank statement for February 2023 reflected an amount of R3 600 for bank charges. No entry was made for this. 10. No entry has been made for an account of R30 000 received from Sigma Motors for the repairs to two vehicles. 11. Write off the account of a debtor who was declared insolvent, R13 000. 12. The provision for bad debts must be decreased by R9000. 13. Provide for depreciation as follows: 13.1 On vehicles at 20% per annum on the diminishing balance. 13.2 On equipment at 10% per annum on cost. 14. The net profit for the year ended 28 February 2023 AFTER taking the above adjustments and additional information into account was R149 600