Using the template provided complete the following:

1. Balance Sheet [Table 2 page 7] (5)

2. Income Statement [Table 3 page 8] (5)

Table 1:

Statement of comprehensive income (income statement) and statement of financial position (balance sheet) of Crazy Times (Pty) Ltd.
TRIAL BALANCE	2021 dr	2021 cr
Arear expenses	0	17940
Bank chargers	26450	0
Bank balance (overdrawn)	0	98900
Electricity	42263	0
Debtors	220193	0
Deposits	5980	0
Repairs	47201	0
Rent paid	235946	0
Cost of sales	2466354	0
Commission paid	67335	0
Creditors	0	339250
Members' contribution	0	863
Distributable reserves	0	946427
Long-term loan	0	460000
Wages and salaries	1550131	0
Accountant fees	6900	0
Interest paid	45968	0
Interest received	0	403
Accumulated loss the previous year	651714	0
Security	11261	0
Cleaning costs	13395	0
Stationery	1518	0
Regional Services Council levies	10263	0
Telephone	23023	0
Inventory	391000	0
Fixed assets - cost price - depreciation	770932	0
Sales	0	5286803
Transport and deliveries	94742	0
Insurance	61267	0
Depreciation	406750	0
	7150585	7150585

Table 2:

Crazy Times (Pty) Ltd	Marks	(5)
Statement of financial positional position (balance sheet) as at 28 February 2022
	2021 R	2020 R
EMPLOYMENT OF CAPITAL
Non - current assets	A.	1014072
Current assets	617173	438606
Inventory	391000	194994
Debtors	B.	43200
Deposits (investment)	5980	4000
Bank Balance	0	196412
TOTAL ASSETS	1388105	1452678
Members' contribution	863	400
Accumulated loss	-475274	-651714
Distributable reserves	946427	1140584
Members' interest	472015	489270
Non-current loan debt	C.	584000
Current liabilities	456090	379408
Creditors	339250	366448
Arear expenses	D.	12960
Bank overdraft	E.	0
EQUITY AND LIABILITIES	1388105	1452678

Table 3:

Crazy Times (Pty)Ltd	Marks	(5)
Statement of comprehensive income (income statement) for the year ending 28 February 2019
	2021 R	2020 R
INCOME
Sales	A.	3131021
Less: cost of sales	2466354	1699509
Gross income	2820449	1431512
Interest received	403	284
EXPENDITURE	B.	1488336
Bank charges	26450	15748
Electricity	42263	20360
Repairs	47201	17424
Rent paid	235946	167764
Commission paid	67335	48000
Wages and salaries	C.	681348
Accountant's fees	6900	7200
Security	11261	2796
Cleaning costs	13395	2952
Stationery	1518	2096
Regional Services Council levies	10263	5000
Telephone	23023	9232
Transport and deliveries	D.	50248
Insurance	61267	51720
Depreciation	406750	360820
NET PROFIT / (LOSS) BEFORE INTEREST	222408	-10912
Less: Interest paid	E.	45628
NET PROFIT / (LOSS) AFTER INTEREST	176440	-56540