REQUIRED Use the information provided below to prepare the Statement of Changes in Equity of Sunray Traders for the year ended 28 February 2023. INFORMATION EXTRACT FROM THE LEDGER OF SUNRAY TRADERS AS AT 28 FEBRUARY 2023 Capital: Sunny Capital: Raymond Current a/c: Sunny (01 March 2022) Current a/c: Raymond (01 March 2022) Drawings: Sunny Drawings: Raymond (c) Debit R The partners are entitled to the following monthly salaries: Sunny R25 000 60 000 500 000 700 000 The following must be considered: (a) On 28 February 2023 the Statement of Comprehensive Income reflected a net profit of R1 400 000. (b) The partners are entitled to interest at 15% p.a. on their capital balances. Note: Raymond decreased his capital contribution by R200 000 on 31 August 2022 whilst Sunny increased his capital balance by the same amount on 01 December 2022. These capital changes have been recorded. Credit R 600 000 400 000 100 000 Raymond R20 000 (d) Raymond is entitled to a bonus equal to 10% of his annual salary. (e) The remaining profit/shortfall must be shared between Sunny and Raymond in the ratio of the capital balances as at the beginning of the financial year.

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 28 Drawings Balance at 28 February 2023 WORKINGS (if any) Interest on capital Sunny Raymond Salaries REQUIRED Use the information provided below to prepare the Statement of Changes in Equity of Sunray Traders for the year ended 28 February 2023. The following must be considered: (a) On 28 February 2023 the Statement of Comprehensive Income reflected a net profit of R1 400000. (b) The partners are entitled to interest at 15% p.a. on their capital balances. Note: Raymond decreased his capital contribution by R200 000 on 31 August 2022 whilst Sunny increased his capital balance by the same amount on 01 December 2022. These capital changes have been recorded. (c) The partners are entitled to the following monthly salaries: Sunny R25 000 Raymond R20000 (d) Raymond is entitled to a bonus equal to 10% of his annual salary. (e) The remaining profit/shortfall must be shared between Sunny and Raymond in the ratio of the capital balances as at the beginning of the financial year. Salaries Sunny Raymond Use the information provided below to prepare the Statement of Changes in Equity of Sunray Traders for the vear ended 28 February 2023. The following must be considered: (a) On 28 February 2023 the Statement of Comprehensive Income reflected a net profit of R1 400000 . (b) The partners are entitled to interest at 15% p.a. on their capital balances. Note: Raymond decreased his capital contribution by R200 000 on 31 August 2022 whilst Sunny increased his capital balance by the same amount on 01 December 2022 . These capital changes have been recorded. (c) The partners are entitled to the following monthly salaries: Sunny R25000 Raymond R20 000 (d) Raymond is entitled to a bonus equal to 10% of his annual salary. (e) The remaining profitshortfall must be shared between Sunny and Raymond in the ratio of the capital balances as at the beginning of the financial year