OC signed a contract to provide office cleaning services for an entity for a period of one year from 1 October 2009 for a fee of R500 per month. The contract required the entity to make one payment to OC covering all twelve months service in advance. The contract cost to OC was estimated at R300 per month for wages, materials and administration costs. OC received R6,000 on 1 October 2009. How much profit/loss should OC recognise in its statement of comprehensive income for the year ended 31 March 2010? (4) (d ) A finance lease for 6 years has an annual payment in arrears of R24,000. The fair value of the lease at inception was R106,000. Using the sum of digits method, the liability for the lease at the end of year 2 is: (4) (e) An item of equipment cost R60,000 on 1 April 2007. The equipment is depreciated at 20% per annum on a reducing balance basis. The amount of deferred tax relating to this asset that should be recognised in the statement of financial position as at 31 March 2010 is: (4)