REQUIRED

Use the information given below to prepare the Statement of Financial Position of Merryale Traders as at $28$ February $2023.$ The notes to the financial statements are not roquired

INFORMATION

The following is an extract from the accounting records of Mertyvale Traders as at $28$ februaky $2023($ine end of the financial year$)$ after the Statement of Comprehensive Income was drawn up:

Additional information that must be considered:

According to the Statement of Comprehensive Income the net profit for the year ended $28$ February $2023$ amounted to R$1620000.$

Commission owed by a supplier to Meryvale Traders on $28$ February $2023$ amounted to R$24000.$

Rent received for the financial year ended $23$ February $2024$ amounted to R$48000.$

On $28$ February $2023$ an amount of R$36000$ was owed to the muricipality for rates and taxes.

An amount of R$6000$ was paid to the insurance company for the period $01$March$2023$ to $31$ August $2023$ for vehicle insurance:

The proprietor took R$18000$ trading goods at cost price for her personal use after stocktaking was done but this has not been recorded.

Stationery unused according to stocktaking amounted to R$12000$ on $28$ February $2023.$

Payments amounting to R$170000$ will be made to Zim Bank in the next financial year. The amount includes R$90000$ for interest on loan.

Sxity percent $(60\%)$ of the fixed deposit matures on $31$ July $2023$ and the balance matures on $31$ July $2024.$