Complete the following notes: Ordinary share capital, Retained income. Prepare the Statement of Financial Position.

The pre-adjustment balance was R 181 890, and there was a trading stock deficit of R 5 500.

• Debtors' list: R 133 022
• Less: Write-off of overdue account: R 4 400
• Adjusted debtors: R 133 022 - R 4 400 = R 128 622
• Less: New provision for bad debts: R 11 440

The lease of vehicle expense is R 52 800 for the year. Since it's paid one month in advance, one month's payment is prepaid.

Prepaid Lease = R 4 400.

From the previous calculation (loan statement):

• Balance at the end of the year: R 618 737.76
• Fixed monthly repayments: R 8 120
• Interest for the next financial year: R 38 640 The current portion of the loan is the principal amount repayable in the next 12 months.

• Creditors' list: R 94 612
• Accrued Audit Fees: 20% of the year's audit fees are outstanding. The expense of R 48 400 represents 80% of the total. $$\text{Total Audit Fees} = \frac{\text{R } 48\,400}{0.80} = \text{R } 60\,500$$ $$\text{Accrued Audit Fees} = \text{R } 60\,500 - \text{R } 48\,400 = \text{R } 12\,100$$
• Accrued Insurance: The premium increased by R355 from 1 November 2025. The insurance for February 2026 is owed. Let $P$ be the monthly premium before November 2025. $$8P + 4(P + \text{R } 355) = \text{R } 26\,620$$ $$12P + \text{R } 1\,420 = \text{R } 26\,620$$ $$12P = \text{R } 25\,200$$ $$P = \text{R } 2\,100$$ The new monthly premium (from Nov 2025) is R 2 100 + R 355 = R 2 455. Accrued Insurance (for February 2026) = R 2 455.
• Rent Received in Advance: Rent was paid until 30 April 2026 (2 months beyond year-end). $$\text{Monthly Rent Income} = \frac{\text{R } 73\,920}{12} = \text{R } 6\,160$$ $$\text{Rent Received in Advance} = \text{R } 6\,160 \times 2 = \text{R } 12\,320$$
• Total Trade and Other Payables: $$\text{R } 94\,612 + \text{R } 12\,100 + \text{R } 2\,455 + \text{R } 12\,320 = \text{R } 121\,487$$

From the Statement of Comprehensive Income, Income Tax is R 56 760. Assuming this is the amount payable at year-end.

Statement of Financial Position on 28 February 2026

Note: The Statement of Financial Position cannot be fully completed or balanced due to missing information regarding Property, Plant and Equipment, Ordinary Share Capital, and Cash and Cash Equivalents.