$4\mathrm{.}1$ In November $2023,$ Sundeck Limited started making budget plans for the $12$ months commencing on $01$ January $2024.$

Projected sales value was R$8700000$ as compared to R$7350000$ for $31$ December $2023.$ The estimates of the operating

results for the current year $(2023)$ are shown in the Statement of Comprehensive Income below.

Statement of Comprehensive Income for the year ended $31$ December $2023$

R

Sales $7350000$

Cost of sales $(4634000)$

Labour $1838000$

Material $1044000$

Overheads $1486000$

Depreciation $266000$

Gross profit $2716000$

Selling expenses $(610000)$

General and administrative expense $\_(646000)$

Profit before tax $1460000$

Taxation $\_(438000)$

Net profit $\_1022000$

Assumptions for the financial year $2024$:

$$ Manufacturing labour will fall to $24\%$ of sales because volume efficiency would be more than offset higher wage rates.

$$ Material cost will increase to $14\mathrm{.}5\%$ of total sales.

$$ Overheads will rise above the current level by $6\%$ of the $2023$ Rand value. Additional variable costs would be

incurred at the rate of $11\%$ of the incremental sales volume.

$$ Depreciation will increase by R$20000,$ reflecting the addition of some production equipment.

$$ Selling expenses would rise more proportionately, by R$250000$ in $2024.$

$$ General and administrative expenses would drop to $8\mathrm{.}1\%$ of sales.

$$ Income tax is estimated at $30\%$ of pre$-$tax profit.

Required

Prepare a Pro$-$Forma Statement of Comprehensive Income for the year end $31$ December $2024.(10)$