Following is the Balance Sheet of Jain, Gupta and Malik as on March 31, 2016. Books of Jain, Gupta and Malik Balance Sheet as on March 31, 2016 Liabilities Amount Rs Assets Amount Rs Sundry Creditors 19,800 Land and Building 26,000 Telephone Bills Outstanding 300 Bonds 14,370 Accounts Payable 8,950 Cash 5,500 Accumulated Profits 16,750 Bills Receivable 23,450 Sundry Debtors 26,700 Capitals : Stock 18,100 Jain 40,000 Office Furniture 18,250 Gupta 60,000 Plants and Machinery 20,230 Malik 20,000 1,20,000 Computers 13,200 1,65,800 1,65,800 The partners have been sharing profits in the ratio of 5:3:2. Malik decides to retire from business on April 1, 2016 and his share in the business is to be calculated as per the following terms of revaluation of assets and liabilities : Stock, Rs 20,000; Office furniture, Rs 14,250; Plant and Machinery Rs 23,530; Land and Building Rs 20,000.A provision of Rs 1,700 to be created for doubtful debts. The goodwill of the firm is valued at Rs 9,000.The continuing partners agreed to pay Rs 16,500 as cash on retirement of Malik, to be contributed by continuing partners in the ratio of 3:2. The balance in the capital account of Malik will be treated as loan.Prepare Revaluation account, capital accounts, and Balance Sheet of the reconstituted firm.