2 Complete the Statement of Comprehensive Income for the year ended 30 June 2025.

To complete the Statement of Comprehensive Income, we need to identify all income and expense items from the pre-adjustment trial balance and make necessary adjustments for the year ended 30 June 2025. Assumptions for Depreciation: Since depreciation rates are not explicitly provided, we will make the following common assumptions: Vehicles: The accumulated depreciation at 1 July 2024 is R148 000, and the cost is R740 000. This implies an annual depreciation rate of (R148\,000)/(R740\,000) = 0.20 or 20% using the straight-line method. Equipment: A common straight-line depreciation rate for equipment is 10% per annum. Step 1: Calculate Income Items We will include all income items for the full year. Fee income: R124 500 (given) Interest on current accounts: R580 (given) Interest on fixed deposit: The fixed deposit is R70 000 at 7% p.a. Interest on fixed deposit = R70\,000 × 7\% = R4\,900 Step 2: Calculate Expense Items We will include all expense items from the trial balance and calculate depreciation. Salaries and wages: R345 600 (given) Stationery: R21 700 (given) Rates and taxes: R32 500 (given) Advertising: R18 400 (given) Bad debts: R9 200 (given) Rent expense: R92 800 (given) Bank charges: R4 200 (given) Depreciation - Vehicles: Based on the 20% straight-line assumption. Depreciation - Vehicles = R740\,000 × 20\% = R148\,000 Depreciation - Equipment: Based on the 10% straight-line assumption. Depreciation - Equipment = R320\,000 × 10\% = R32\,000 Step 3: Prepare the Statement of Comprehensive Income We will list all income items, sum them, then list all expense items, sum them, and finally calculate the profit or loss for the year. SNETHEZEKILE LIMITED \\ STATEMENT OF COMPREHENSIVE INCOME \\ FOR THE YEAR ENDED 30 JUNE 2025 Income & \\ Fee income & & R124\,500 \\ Interest on current accounts & & R580 \\ Interest on fixed deposit & & R4\,900 \\ Total Income & & R139\,980 \\ & \\ Expenses & \\ Salaries and wages & & R345\,600 \\ Stationery & & R21\,700 \\ Rates and taxes & & R32\,500 \\ Advertising & & R18\,400 \\ Bad debts & & R9\,200 \\ Rent expense & & R92\,800 \\ Bank charges & & R4\,200 \\ Depreciation - Vehicles & & R148\,000 \\ Depreciation - Equipment & & R32\,000 \\ Total Expenses & & R704\,400 \\ & \\ Profit (Loss) for the year & & R(564\,420) \\ The completed Statement of Comprehensive Income shows a loss of R564 420 for the year ended 30 June 2025. Loss for the year: R564\,420 Send me the next one 📸