Use the information provided below to prepare the Statement of Comprehensive Income for the year ended 28 February 2022.

### Information

The trial balance, adjustments, and additional information below were extracted from the accounting records of Whetstone Stores as of 28 February 2022, the end of the financial year.

#### Whetstone Stores Pre-Adjustment Trial Balance as at 28 February 2022

| **Debit (R)** | **Credit (R)** |
|---------------------------|----------------------|
| **Balance Sheet Accounts**| |
| Capital | | 3,759,100 |
| Drawings | 310,000 | |
| Land and buildings | 2,840,000 | |
| Vehicles at cost | 2,100,000 | |
| Equipment at cost | 1,500,000 | |
| Accumulated depreciation on vehicles | | 1,200,000 |
| Accumulated depreciation on equipment | | 840,000 |
| Investment: Med Bank (8% p.a.) | 450,000 | |
| Debtors control | 444,000 | |
| Provision for bad debts | | 22,000 |
| Bank | 602,700 | |
| Creditors control | | 418,000 |
| Loan: Med Bank (18% p.a.) | | 750,000 |
| **Nominal Accounts** | |
| Sales | | 5,600,000 |
| Opening stock | 200,000 | |
| Purchases | 2,150,000 | |
| Purchases returns | | 118,000 |
| Sales returns | 60,000 | |
| Salaries and wages | 1,234,000 | |
| Bad debts | 42,000 | |
| Stationery | 68,000 | |
| Rates and taxes | 178,000 | |
| Motor expenses | 300,000 | |
| Repairs and maintenance | 52,000 | |
| Telephone | 100,000 | |
| Electricity and water | 150,000 | |
| Bank charges | 18,000 | |
| Advertising | 194,000 | |
| Interest on mortgage loan | 130,000 | |
| Interest on investment | | 32,000 |
| Rent income | | 383,600 |

**Total** | 13,122,700 | 13,122,700 |

### Adjustments and Additional Information

1. **Stocktaking on 28 February 2022:**
- Trading inventory: R240,000
- Stationery: R6,000

2. A debtor declared insolvent paid R4,200, which represented 60% of the amount owed to Whetstone Stores. This amount has been recorded, but the remaining balance of his account must now be written off.

3. The provision for bad debts must be adjusted to R20,000.

4. Interest is outstanding on the investment made on 01 February 2021. The maturity date is 31 July 2022.

5. The long-term loan from Med Bank was obtained on 01 March 2021. A repayment of R100,000 was made and recorded on 31 August 2021. Provide for the outstanding interest. Note: Interest is not capitalized.

6. An account for R2,000 to replace broken window panes has been received. This has not been recorded and payment was due during March 2022.

7. The advertising amount includes a contract for R30,000 for monthly advertisements of equal value from 01 December 2021 to 31 May 2022.

8. Rent has been received for the period 01 March 2021 to 31 March 2022. Note: Rent was increased by 10% effective 01 September 2021.

9. The telephone account for February 2022 was due to be paid on 02 March 2022, amounting to R10,000.

10. Provide for depreciation as follows:
- On vehicles at 20% p.a. on the diminishing balance.
- On equipment at 10% p.a. on cost.