Following is the Trial Balance of Sh. Damodar Parshad as at 31st March, 2016:- Dr. Balances (₹) Cr. Balances (₹) Stock 1-4-2015 10,000 Discount Received 750 Purchases 58,000 Return Outwards 2,600 Wages 4,700 Sales 98,650 Returns Inwards 3,520 B/P 3,000 Carriage on Purchases 2,360 Sundry Creditors 5,600 Carriage on Sales 710 Creditors for Rent 500 Office Salaries 4,800 Capital 40,000 Rent and Taxes 2,400 Loan from X 10,000 Cash 1,100 Commission 1,200 Bank Balance 7,820 Bad-debts 600 Discount allowed 640 Land and Building 20,000 Scooter 6,600 Scooter Repairs 850 B/R 3,500 Commission 1,800 Sundry Debtors 25,400 Interest on X's Loan 1,500 Drawings 6,000 1,62,300 1,62,300 Prepare a Trading and Profit and Loss Account for the year ended on 31-3-2016 and the Balance Sheet as at that date. The Stock on 31st March, 2016 was ₹ 22,000.