Use the trial balance, adjustment and information to prepare the statement of comprehensive income.

Pre-adjustment trial balance as at 28 February 2022.

Balance sheets accounts section:

Capital cr R550854.

Drawings Dr R75150.

Land and buildings Dr R477164.

Vehicles at cost Dr R91000.

Equipment at cost R67000.

Accumulated depreciation vehicles cr R31000.

Accumulated depreciation on equipment cr R23800.

Trading inventory Dr R68800.

Debtors control R45850.

Provision for bad debts cr R1900.

Bank dr R15560.

Cash float Dr R1250.

Petty cash dr R250.

Creditors control cr R38860.

Loan:MUFG Bank 15% cr R21600.

Nominal accounts section.

Sales cr R498000.

Cost of Sales Dr R244000.

Sales return Dr R18000.

Wages Dr R42500.

Bank charges Dr R2300.

Rent income cr R26000.

Packing materials Dr R12000.

Advertising Dr R8500.

Rates Dr R3000.

Bad debts Dr R900.

Discount allowed dr R750.

Discount received cr R980.

Stationery dr R8500.

Interest on loan Dr R2970.

Water and electricity Dr R5550.

Insurance Dr R5000.

Telephone Dr R7000.

Total Dr R1192994. Total Cr R1192994.

Adjustments and additional information.

1. A physical count revealed the following Inventories on hand on 28th of February 2022.

Trading inventories:R66800.

Packing materials:R4000.

2. Received an account from minty's tyres for replacing the tires on a motor vehicle R6500. No entry was made for this.

3. The account of debtor, L. Azia, who owed R5000 must be written off as irrecoverable.

4. A debtor whose account of R2400 was overdue for one month must be charged interest at a rate of 12% per annum.

5. The provision of bad debts must be reduced to R1550.

6. The interest on loan for February 2022 has not been paid.

7. The telephone account for February 2022 will only be paid on 3rd March 2022, R1000

8. The insurance account includes the annual building insurance premium that was paid for the period 1st September 2021 to 31st August 2020, R1800.

9. The bookkeeper did not record an amount of R500 that was reflected on the bank statement for service fees.

10. Rent has received in advance for 1 month.

11. Provide for depreciation as follows:

11.1. On equipment at 10% per annum on cost. note: equipment with a price cost of R20,000 was purchased on 1st June 2021 the purchase has been recorded.

11.2. On vehicles at 20% per annum on the diminishing balance.

A reminder to show all workings including, Gross Operating Income, Gross Profit, Gross Operating profit, Interest income, Interest expense Net profit for the year.