From the following Trial Balance, extracted from the books of Raga Ltd., prepare a Profit and Loss Account for the year ended 31st March, 2019 and a Balance Sheet as at that date: Debit Balances (₹) Credit Balances (₹) Drawings Account 20,000 Sales 2,20,000 Land & Building 12,000 Capital 1,01,110 Plant and Machinery 40,000 Discount 1,260 Carriage Inward 100 Commission 5,230 Wages 500 Bills Payable 1,28,870 Salary 2,000 Purchase Return 10,000 Sales Return 200 Bank charges 200 Coal, gas and water 1,200 Purchases 1,50,000 Trade Expenses 3,800 Stock (Opening) 76,800 Cash at Bank 50,000 Rates and Taxes 870 Bills Receivable 24,500 Sundry Debtors 54,300 Cash in hand 30,000 4,66,470 4,66,470 The additional informations are as under:(i) Closing stock was valued at the end of the year at ₹ 20,000.(ii) Depreciation on Plant and Machinery charged at 5% and on Land and Building at 10%.(iii) Make a provision for discount on debtors at 3%.(iv) Make a provision at 5% on debtors for Bad-debts.(v) Salary outstanding was ₹ 100 and Wages prepaid were ₹ 40.(vi) The manager is entitled to a Commission of 5% on Net Profit after charging such Commission.