SECTION B The following balances are extracted from the books of Charm Stores for the year ended 30 June 2018. 3. Prepare the Statement of Comprehensive Income of Charm Stores for the most recent accounting period. 4. Prepare the Statement of Financial Position of Charm Stores on 30 June 2018 Capital General reserve DR CR 100 000 40 000 Sales 80000 Discount allowed 400 Discount received 200 Carriage inwards 1000 Carriage outwards 800 Trade receivables 10000 Trade payables 2000 Stock at 1 July 2017 10000 (10%) Mortgage (25 years) 50 000 HC1ACAS 3| Page Interest income Interest 5000 5 000 Land 100000 Equipment 80000 Intangible assets 50000 Accumulated depreciation 95000 Purchases 49000 Sundry expenses 500 Stationary 600 Insurance 900 Internet fees 500 Equipment repairs 800 Salaries 400 300 Rates Retained earnings Cash Additional Information B 71600 381000 381 000 I. Stock on the 30th of June 2018 is valued at R15 000. II. Rental expenses incurred and correctly recorded in the year ended 30 June 2017 have still not been paid. The amount owing is R1 600. III. Tax expense for the year is R3 400