From the following balances of M/s Nilu Sarees as on March 31, 2017. Prepare trading and profit and loss account and balance sheet as on date. Account Title Debit Amount Rs Account Title Credit Amount Rs Opening stock 10,000 Sales 2,28,000 Purchases 78,000 Capital 70,000 Carriage inwards 2,500 Interest 7,000 Salaries 30,000 Commission 8,000 Commission 10,000 Creditors 28,000 Wages 11,000 Bills payable 2,370 Rent and taxes 2,800 Repairs 5,000 Telephone expenses 1,400 Legal charges 1,500 Sundry expenses 2,500 cash in hand 12,000 Debtors 30,000 Machinery 60,000 Investments 90,000 Drawings 18,000 Closing stock, as on March 31, 2017 Rs 22,000.