From the following Receipts and Payments Account of Imran Khan club and from the given additional information , prepare Income and Expenditure Account for the year ending 31st December, 2015 and the Balance Sheet as at that date: RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2018 Dr. Cr. Receipts ₹ Payments ₹ To Balance b/d To Subscriptions To Interest on Investment 8% p.a. for full year 1,90,000 6,60,000 40,000 By Salaries By Sports Material By Balance c/d 3,30,000 4,00,000 1,60,000 ​ 8,90,000 8,90,000 Additional Information:(i) The club had received ₹ 20,000 for subscription in 2014 for 2015.(ii) Salaries had been paid onl;y for 11 months(iii) Stock of sports materials on 31st December , 2014 was ₹ 3,00,000 and on 31st December, 2015 ₹ 6,50,000​