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Use the information provided below to prepare the following:

$4\mathrm{.}1$ Budgeted Statement of Comprehensive Income for the year ended $30$ June $2024.$

INFORMATION

MARBURG LTD

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED $30$ JUNE $2023$

R

Sales $4800000$

Cost of sales $(3600000)$

Gross profit $1200000$

Expenses $(600000)$

Profit before tax $600000$

Company tax $(30\%$ of pre$-$tax profit$)(180000)$

Profit after tax $420000$

Sales for the year ended $30$ June $2024$ are budgeted at R$5600000.$ Ninety percent $(90\%)$ of the sales is expected to be on credit. The gross margin for the year ended $30$ June $2024$ is expected to increase as goods would be sold at cost plus $40\%.$ The percentage of expenses to sales is expected to remain unchanged.

The authorized share capital of Marburg Limited consists of $550000$ ordinary shares. The unissued shares are expected to be sold on $02$ January $2024$ at R$3$ each.

A final dividend of $16$ cents per share is expected to be recommended on $30$ June $2024$ and is payable during August $2024.$

R$400000$ of the long$-$term loan will be repaid during the financial year ended $30$ June $2024.$

Accounts receivable would be based on a collection period of $73$ days.

$6)$ The company$$s closing inventory will change directly with changes in sales for the financial year

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