(33 marks) Question 2. The following information relates to Peter Pumpkin, an entity in Namibia. 1. TRIAL BALANCE OF PETER PUMPKIN AS AT 38 FEBRUARY 2019 Dr Cr Land and building (at cost) 100 000 Furniture and fittings(at cost) 42 000 Accumulated depreciation-28 February 2018 5 000 Furniture and fittings 15% Mortgage secured by land and buildings 30 000 Capital: P Pumpkin- 28 February 2018 80 000 Trade receivables 8 100 Trade payables 3 000 Bank overdraft 800 Drawings 7 300 Petty cash 640 Stationery 1 150 Salaries 21 100 Electricity 12 000 Telephone expenses 1 860 Revenue 59 000 Rental income 16 500 Bank charges 150 194 300 194 300 2. Additional information (a) Stationery on hand at 28 February 2019 was N$ 150 (b) It was determined that the allowance for credit losses should amount to N$ 405 at 28 February 2019 (c) Rental income amounts to N$ 1500 per month and the rental has been charged for the full financial year (d) Provide for all interest still outstanding on mortgage (e) Provide for depreciation on furniture and fittings at 15% per annum on cost price. Required: 1. Prepare the statement of profit or loss and other comprehensive income of Peter Pumpkin for the year ended 28 February 2019 (16 marks) 2. Prepare the statement of financial position of Peter Pumpkin as at 28 February 2019 (17 marks) 3