The trial balance and additional information were extracted from the accounting records of Warrior Traders as at $28$ February $2021,$ the end of the financial year.

Warrior Traders

PRE ADJUSTMENT TRAIL BALANCE AS AT $28$ FEBRUARY $2021$

DR CR

R R

Capital $162000$

Drawings $70000$

Vehicles at cost $180000$

Equipment at cost $120000$

Accumulated depreciation on vehicles $90000$

Accumulated depreciation on equipment $38000$

Trading inventory $70000$

Debtors control $32000$

Allowance for credit losses $4000$

Bank $22000$

Cash float $2000$

Creditors control $40000$

Mortgage loan: Aries Bank $(16\%$ p$.$a$.)80000$

Sales $485000$

Cost of sales $240000$

Sales returns $5000$

Salaries and wages $84000$

Credit losses $5000$

Consumable stores $2000$

Commission income $5000$

Rent expense $28000$

Motor expenses $15000$

Credit losses recovered $2000$

Telephone $7000$

Electricity and water $11000$

Bank charges $3000$

Insurance $4000$

Interest on mortgage loan $6000$

$906000906000$

Adjustments and additional information

$1.$ According to physical stocktaking done on $28$ February $2021,$ trading inventory on hand amounted to R$68000.$

$2.$ Consumables used during the financial year amounted to R$1800.$

$3.$ No entry has been made for a commission of $10\%$ earned but not received on $500$ items that were sold for R$60$ each.

$4.$ Received a cheque for R$600$ from an insolvent debtor, J Marsh, who was only able to pay $30\%$ of her debt. The balance of his account must now be written off.

$5.$ The allowance for credit losses must be decreased to R$1500.$

$6.$ The telephone account for February $2021$ has not yet been paid, R$?00.$

$7.$ The rental agreements signed with the lessor were as follows:

$$ R$30000$ for the period $01$ January $2020$ to $31$ December $2020$

$$ R$36000$ for the period $01$ January $2021$ to $31$ December $2021$

$8.$ The loan from Aries Bank was obtained on $01$ September $2020.$ Provide for the outstanding interest.

$9.$ The insurance total includes an annual premium of R$1800$ that was paid for the period $01$ June $2020$ to $31$ May $2021.$

$10.$ The bank statement for February $2021$ reflected bank charges of R$180$ that have not yet been recorded.

$11.$ The electricity and water account was debited with an amount of R$1000$ for personal electricity account of the proprietor, that was paid with a business cheque

$12.$ Provide for depreciation as follows:

$$ On equipment at $15\%$ per annum on cost

$$ On vehicles at $25\%$ per annum, straight line.

$13.$ An account received from Heidi Motors to replace two tyres on the delivery vehicle of the business R$2000,$ has not been recorded.

Required:

Prepare the statement of comprehensive income for Warrior Traders for the financial year ended $28$ February $2021$