With all the images that I sent to you draw the income statement for the year ended 28february 2019

Step 1: Calculate Adjustments

• Depreciation on Equipment:

  $$\text{Carrying Amount} = \text{Cost} - \text{Accumulated Depreciation}$$ $$\text{Carrying Amount} = R95\,600 - R20\,600 = R75\,000$$ $$\text{Depreciation Expense} = \text{Carrying Amount} \times \text{Rate}$$ $$\text{Depreciation Expense} = R75\,000 \times 20\% = R15\,000$$

• Interest on Fixed Deposit:

  $$$$