Use the information provided below to prepare Statement of Comprehensive Income of Leo Limited for the year ended $28$ February $2023.$

INFORMATION

The trial balance and additional information given below were extracted from the accounting records of Leo Limited on $28$ February $2023,$ the end of the financial year.

LEO LIMITED

PRE$-$ADJUSTMENT TRIAL BALANCE AS AT $28$ FEBRUARY $2023$

Debit $($R$)$ Credit $($R$)$

Balance sheet accounts section

Ordinary share capital $500000$

Retained earnings $66800$

Vehicles at cost $740000$

Equipment at cost $546000$

Accumulated depreciation on vehicles $312000$

Accumulated depreciation on equipment $218400$

Fixed deposit: Nami Bank $(10\%$ p$.$a$.)116800$

Trading inventory $64000$

Accounts receivable $75400$

Provision for bad debts $5800$

Bank $73200$

Petty cash $3600$

Accounts payable $109160$

SARS $$ Company tax $50000$

Mortgage loan: Nami Bank $(15\%$ p$.$a$.)192000$

Nominal accounts section

Sales $1764000$

Cost of sales $658000$

Returns inwards $30000$

Salaries and wages $288000$

Rent expense $119600$

Motor expenses $78000$

Directors$$ fees $170000$

Audit fees $29000$

Telephone $34000$

Electricity and water $40000$

Bank charges $6000$

Insurance $8000$

Interest on mortgage loan $26400$

Interest on fixed deposit $5840$

Stationery $18000$

$31740003174000$

Adjustments and additional information

$1.$ There are four directors in the company who earn fees of R$40000$ each per year. One of the directors was paid in advance for the first three months of the next financial year.

$2.$ Stationery on hand according to stocktaking amounted to R$1000.$

$3.$ Interest on fixed deposit has been received for the period $01$ March $2022$ to $31$ August $2022.$ Provide for the outstanding interest.

$4.$ Provide for outstanding interest on the mortgage loan for the last month of the financial year.

$5.$ Included in the insurance total is an amount of R$2400$ that was paid for fire insurance for the period $01$ June $2022$ to $31$ May $2023.$

$6.$ The water and electricity account for February $2023,$ R$4000,$ was due to be paid on $02$ March $2023.$

$7.$ Rent has been paid for the period $01$ March $2022$ to $31$ March $2023.$

$8.$ The bank statement for February $2023$ reflected an amount of R$500$ for service fees levied by the bank. No entry was made for this.

$9.$ No entry has been made for an account received from Sigma Motors for replacing four tyres on a vehicle, R$8000.$

$10.$ Write off the account of debtor, P$.$ Floyd, who was declared insolvent, R$2000.$

$11.$ The provision for bad debts must be decreased to R$3600.$

$12.$ Provide for depreciation as follows:

$12\mathrm{.}1$ On vehicles at $20\%$ per annum using the reducing balance method

$12\mathrm{.}2$ On equipment at $10\%$ per annum on cost$.$

$13.$ The company tax for the year ended $28$ February $2023$ amounted to R$38000.$