The following information was taken from the books of MLOCHIE CC on 30 June 2017,the end of the financial year: PREADJUSTMENT TRIAL BALANCE OF MLOCHIE CC ON 30 JUNE 2017 FOL DEBIT CREDIT BALANCE SHEET ACCOUNTS SECTION Members' contribution: Malatji Paseka Vehicle Accumulated depreciation: Vehicle Machinery Accumulated depreciation: Machinery Inventory Bank Petty cash Cash float Debtors control Creditors control Mortgage bond: (10%) Investment: VBS Bank (12%) NOMINAL ACCOUNTS SECTION Sales Cost of sales Debtors allowances Water and electricity Bad debts Rent income Bad debts recovered Telephone Insurance Discount allowed Advertising Interest received Interest on mortgage bond Consumable stores Salaries 534 000 00 355 668 00 460 956 20 904 1 500 2 106 54 000 237 000 00 257 850 15 750 28 404 16 470 00 00 00 00 00 42 000 3 204 47 040 2190 450 00 00 00 00 2418 00 84 000 00 16 404 00 10 776 00 00 00 00 00 184 500 184 500 00 00 332 528 00 148 308 00 70 092 00 297 000 00 958 380 00 18 768 00 270 00 13 104 00 2 190 450 00 The following must still be taken into account: 1. 2. 3. 4. 5. 6. 7. 8. 9. Insurance has been paid until 31 August 2017. The investment in VBS Bank was made on 1 January 2017. Rent income includes R368 for July 2017. Water and electricity has been paid until May 2017. Depreciation must be provided as follows: 5.1 5.2 Vehicle at 15% per annum on the straight-line method Machinery at 10% per annum on the diminishing balance method Sales amount includes VAT of R117 696. Interest on mortgage bond must be adjusted. Land and building were bought for R100 000 on 1 August 2016 and was revalued on 31 May 2017 for R120 000. Both the purchase and the revaluation were not recorded. Income tax is levied at 28%. REQUIRED: Use the above trial balance and information given to prepare the statement of comprehensive income of MLOCHIE CC for the year ended 30 June 2017.