Question $1[30$ marks$]$

You are provided with information relating to Kakula Limited for the year ended $31$ December $2022.$

REQUIRED:

$1\mathrm{.}1$ Prepare the Statement of Comprehensive Income $(20$ marks$)$

$1\mathrm{.}2$ Comment on whether the company can meet its shor$-$term debts in the next financial year. Quote and explain TWO financial indicators $(10$ marks$)$

INFORMATION:

Extract from Pre$-$adjustment Trial Balance on $31$ December $2022$:

$\backslash$table$[[$Balance sheet accounts section,Debit,Credit$],[$Ordinary share capital,,$1,000,000$