M/s Saniya Sports Equipment does not keep proper records. From the following information find out profit or loss and also prepare balance sheet for the year ended March 31, 2017 April. 31, 2016 March. 31, 2017 Rs Rs Cash in hand 6,000 24,000 Bank overdraft 30,000 – Stock 50,000 80,000 Sundry creditors 26,000 40,000 Sundry debtors 60,000 1,40,000 Bills payable 6,000 12,000 Furniture 40,000 60,000 Bills receivable 8,000 28,000 Machinery 50,000 1,00,000 Investment 30,000 80,000 Drawing Rs 10,000 p.m. for personal use, fresh capital introduce during the year Rs 2,00,000. A bad debts of Rs 2,000 and a provision of 5% is to be made on debtors outstanding salary Rs 2,400, prepaid insurance Rs 700, depreciation charged on furniture and machine 10% p.a.