Teachers Day Limited Trial Balance

Year Ended December 31, 2021

Dr Cr
Bank: NCB $ 12,500,000
Bank: BNS $ 850,000
Cash on Hand $ 1,000,000
Sales $ 125,000,000
Share Capital $ 50,000,000
JMMB 10 Year Loan $ 25,000,000
JMMB Motor Vehicle Loan $ 10,000,000
CIBC Credit Card $ 2,000,000
Opening Stock $ 1,765,000
Purchases $ 70,000,000
Building $ 50,000,000
Motor Vehicles $ 20,000,000
Furniture and Equipment $ 15,000,000
Long Term Investments $ 8,000,000
Accounts Receivable $ 5,555,000
Prepaid Expenses $ 500,000
Utilities $ 6,000,000
Wages and Salaries $ 12,000,000
Rent $ 3,000,000
Repairs & Maintenance $ 250,000
Bad Debts $ 200,000
Insurance $ 1,080,000
Travelling $ 2,000,000
Printing & Stationery $ 287,000
Donations $ 50,000
Social Media Marketing $ 1,000,000
Delivery Expenses $ 660,000
PR Consultant and Sales Commission $ 880,000
Bank Fees and Charges $ 123,000
Interest on Loans $ 1,000,000

$ 212,850,000 $ 212,850,000

Closing stock for the year was $3,500,000

Required:
1) Prepare the Statement of Comprehensive Income for Teachers Day Limited for the year ended December
31, 2021
2) Prepare the Statement of Financial Position as at December 31, 2021 for Teachers Day Limited