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ype here to search QUESTION 2 (20 Marks) Classic Retailers is solely owned by Yvonne whom also manages the business. The following transactions occurred during

image text in transcribed ype here to search QUESTION 2 (20 Marks) Classic Retailers is solely owned by Yvonne whom also manages the business. The following transactions occurred during the month of April 2019 which was the first month of trading. . . A business laptop was purchased cash for R4 000 with an estimated usefull life of 2 years. Laptops are depreciated on a straight-line basis. A further R40 000 was borrowed from the bank for the business. The loan is repayable over 24 months with a flat interest rate of 10% per annum. Interest is payable monthly and the capital will be repaid at the end of the 24 month period. Office furniture was purchased for R10 000 cash with an estimated useful life of 5 years. Office furniture are depreciated on a straight-line basis. Cash sales for the month totals R20 500, Credit sales for the month totals R10 000. D . Inventory was bought cash to the amount of R10 000 . Inventory was bought on credit to the amount of R5 000 . Fuel (Diesel) was purchased cash for business related travel R1 000 Rent paid for the month R8 000 cash . Wages paid for the amount of R5 000 cash Stationary bought for R800 cash The closing balance for inventory on 31 March 2019 was R1 000REQUIRED: Prepare the statement of comprehensive income for the month ended April 2019. Please show all workings ENG 202 C

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