QUESTION 1: [15 MARKS] Text Craft Ltd is analysing a proposed project with the following income and costs characteristics. The depreciation expense amounts to R10 000. There will be no salvage value. The tax rate is 28%. BASE CASE UPPER BOUND Unit sales LOWER BOUND 15 000 R10.00 R6.50 16 000 R14.00 R 7.00 Price per unit 17 000 R18.00 R7.50 Variable cost per unit Fixed costs R26 000 R25 000 R27 000 1.1 Complete the following pro forma statement of profit/loss (income statement) for Text Craft Ltd. [7] BASE CASE BEST CASE WORST CASE R R R (1/2) Sales Variable costs () Fixed costs (1/2) Depreciation (1/2) PBIT (1/2) Tax (28%) (1/2) NPAT (1/2) 224 000 112 000 26 000 10 000 76 000 21 280 54 720 b) d) (1) h) (1) D (1/2) D (1) k) (). D (1) m)