The following information pertains to The Roses CC and covers questions 1 9: David and Patrick are the only members of a Close Corporation trading as The Roses CC (Roses CC). They both have an equal interest of 50% each in the CC. The CC has a 28 February financial year-end. You have been appointed by Roses CC as the accounting officer for the year ended 28 February 2023.The following information was presented to you by the CCs accountant: The Roses CC EXTRACT OF BALANCES AS AT 28 February 2023: The Roses CC R Member contribution:David 180000 Member contribution:Patrick 240000 Loan from David 60000 SARS (Dr) 6240 Allowance for credit losses 2400 Inventory (01 March 2022) 72000 Long-term loan : Redbank 134400 Prepaid expenses 4920 Accrued expenses 6480 Sales 648000 Sales return 22800 Purchases 238800 Delivery expenses on Sales 5904 Depreciation 5184 Rental income 6540 Purchases returns 4980 Salaries and wages 283692 Land and buildings at cost 576000 Debtors control 39600 Interest on loan from member ? Telephone expense 7680 Stationery 3960 Water and electricity 8580 Advertising expense 5160 Insurance expense ? Additional information: Extract from the members arrangement: 1.Patrick and David are entitled to a monthly salary of R6 000 each. Patrick as the managing members is entitled to an additional amount of R12 000 per annum. Year-end adjustments: 1.The allowance for credit losses must be adjusted to R5 760.Mr Johny a debtor who owe the business R1 300 was declared insolvent and must be written off as irrecoverable. 2.Inventory on hand on 28 February 2023 amounted to R82 000 3.The partners salaries were paid during the year and are included in salaries and wages amount. 4.On 15 August 2022 Roses CC entered into an insurance contract with Orange Insurance. The policy came into effect from the 1 September 2023 at a premium of R1200 per month. A total of R15 000 was paid to Orange by the CC as insurance premium. No entries have been made in the books of The Roses regarding the premiums. 5.On 30 November 2022, a profit distribution of R40 000 was made to each member of the close corporation. These amounts should be regarded as loans from members with interest charged and capitalised at 10% per annum. This transaction is yet to be accounted for. 6.Interest on the mortgage from City Bank at 18% per annum must still be considered. The interest is payable on 1 March 2023. The mortgage was obtained on 1 September 2022 and is secured by a first mortgage over land and buildings. The mortgage is repayable in five equal instalments as from 31 March 2024. Rounds off all amounts to the nearest rand. PART A QUESTION 1 Which alternative represents the correct amount for revenue in the statement of profit or loss and other comprehensive income of The Roses CC for the year ended 28 February 2023