Following are balances from the trial balance of Ritesh Traders as at 31st March 2008: Particulars ₹ Particulars ₹ Opening Stock 5,620 Interest on Securities 6,400 Purchases 1,54,200 Land and Building 10,00,000 Sales 3,74,800 Securities 6,00,000 Wages 1,26,000 Cash in Hand 25,600 Carriage Inward 900 Bank Overdraft 3,40,000 Freight on Purchase 4,900 Discount Allowed 1,500 Salaries 8,000 Discount Received 420 Insurance 2,800 Bill Payable 4,000 Repair to Machinery 1,400 Loan (Cr.) 11,000 Drawings 5,600 Bills Receivable 7,000 Customer's A/c 15,800 Capital Account 13,47,600 Postage 500 Suppliers A/c 40,000 Trade Expenses 1,000 X's Loan (Cr.) 18,600 Plant and Machinery 1,82,000 Prepare Trading and Profit & Loss Account for the year ended 31st March 2008 and Balance Sheet as at that date after taking into account the following adjustments :(i) Closing Stock was valued at ₹ 19,000.(ii) Depreciation to be provided on Land and Building 5% p.a. and on Plant & Machinery 10% p.a.(iii) Write off ₹ 2,000 as Bad debt.(iv) Insurance was prepaid ₹ 700.(v) Create provision for doubtful debts 5% on debtors.(vi) Wages include ₹ 4,800 for installation of a new machinery.