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

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. $$\text{Interest on fixed deposit} = R70\,000 \times 7\% = R4\,900$$

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. $$\text{Depreciation - Vehicles} = R740\,000 \times 20\% = R148\,000$$
• Depreciation - Equipment: Based on the 10% straight-line assumption. $$\text{Depreciation - Equipment} = R320\,000 \times 10\% = R32\,000$$

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.

$$\textbf{SNETHEZEKILE LIMITED} \\ \textbf{STATEMENT OF COMPREHENSIVE INCOME} \\ \textbf{FOR THE YEAR ENDED 30 JUNE 2025}$$

\begin{align*}
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) \ \end{align*}

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