Following balances have been extracted from the trial balance of M/s Keshav Electronics Ltd. You are required to prepare the trading and profit and loss account and a balance sheet as on March 31, 2017. Account Title Amount Rs Account Title Amount Rs Opening stock 2,26,000 Sales 6,80,000 Purchases 4,40,000 Return outwards 15,000 Drawings 75,000 Creditors 50,000 Buildings 1,00,000 Bills payable 63,700 Motor van 30,000 Interest received 20,000 Freight inwards 3,400 Capital 3,50,000 Sales return 10,000 Trade expense 3,300 Heat and Power 8,000 Salary and Wages 5,000 Legal expense 3,000 Postage and Telegram 1,000 Bad debts 6,500 Cash in hand 79,000 Cash at bank 98,000 Sundry debtors 25,000 Investments 40,000 Insurance 3,500 Machinery 22,000 11,78,700 11,78,700 The following additional information is available :1. Stock on December 31, 2017 was Rs 30,000.2. Depreciation is to be charged on building at 5% and motor van at 10%.3. Provision for doubtful debts is to be maintained at 5% on Sundry Debtors.4. Unexpired insurance was Rs 600.5. The Manager is entitled to a commission 5% on net profit before charging such commission.