Following balances are taken from the books of Mr. Niranjan. You are required to prepare Trading and Profit and Loss Account and Balance Sheet for the year ended 31st March, 2018: Particulars ₹ Particulars ₹ Capital 1,20,000 Drawings 21,000 Opening Stock 45,000 Plant and Machinery 24,000 Furniture 1,500 Purchases 2,95,000 Sales 4,35,000 Insurances 1,500 Purchases Return 4,000 Sales Return 7,000 Rent 5,000 Trade Expenses 2,000 Salaries 24,000 Wages 40,000 Bad Debts 1,000 6% Investments 50,000 Sundry Debtors 40,000 Sundry Creditors 19,000 Bills Payable 800 Cash 12,200 Advertisement Expenses 6,000 Miscellaneous Receipts 1,200 Patents 4,800 Adjustments:(i) Closing Stock ₹ 75,000.(ii) Depreciate Machinery by 10% and Furniture by 20%.(iii) Wages ₹ 5,000 and salaries ₹ 2,000 are outstanding.(iv) Write off ₹ 5,000 as further Bad Debts and create 5% Provision for Doubtful Debts.(v) Investments were made on 1st July, 2017 and no interest has been received so far.