SECTION A [100 MARKS] Answer ALL the questions in this section. Prepare the Statement of Comprehensive Income for the year ended 28 February 2022. (20 Marks) INFORMATION The following information was obtained from the accounting records of Jupiter Traders for the financial year ended 28 February 2022.

JUPITER TRADERS PRE-ADJUSTMENT TRIAL BALANCE AS AT 28 FEBRUARY 2022 Debit (R) Credit (R) Balance sheet accounts section Capital 1 901 000 Drawings 352 620 Land and buildings 1 400 000 Vehicles at cost 1 000 000 Equipment at cost 800 000 Accumulated depreciation on vehicles 600 000 Accumulated depreciation on equipment 400 000 Fixed deposit: Medi Bank (8 % p.a.) 250 000 Trading stock 135 000 Debtors control 217 000 Provision for bad debts 11 000 Bank 163 730 Creditors control 228 600 Loan: Medi Bank (18% p.a.) 350 000 Nominal accounts section Sales 2 863 000 Cost of sales 1 045 000 Sales returns 40 000 Salaries and wages 607 000 Bad debts 22 000 Stationery 33 000 Rates and taxes 90 000 Motor expenses 149 000 Repairs and maintenance 26 000 Telephone 50 000 Electricity and water 75 000 Bank charges 9 000 Advertising 97 000 Interest on fixed deposit 16 000 Rent income 191 750 6 561 350 6 561 350