(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 Cr Dr 100 000 42 000 5 000 30 000 80 000 8 100 3 000 800 Land and building (at cost) Fumiture and fittings(at cost) Accumulated depreciation-28 February 2018 Fumiture and fittings 15% Mortgage secured by land and buildings Capital:P Pumpkin- 28 February 2018 Trade receivables Trade payables Bank overdraft Drawings Petty cash Stationery Salaries Electricity Telephone expenses Revenue Rental income Bank charges 7300 640 1 150 21 100 12 000 1 860 59 000 16 500 150 194 300 194 300 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