From the following Trial Balance of M/s Arjun and Sons as on 31st March, 2018, prepare Trading and Profit and Loss Account and Balance Sheet: Heads of Accounts Debit Balances (₹) Credit Balances (₹) Drawings ................................................................................ 1,80,000 … Capital ................................................................................ … 8,00,000 Purchases ................................................................................ 8,26,000 ... Sales ................................................................................ … 15,50,000 Opening Stock ................................................................................ 4,20,000 … Returns Outward ................................................................................ … 16,000 Carriage Inwards ................................................................................ 12,000 … Wages ................................................................................ 40,000 … Power ................................................................................ 60,000 … Machinery ................................................................................ 5,00,000 … Furniture ................................................................................ 1,40,000 … Rent ................................................................................ 2,20,000 … Salary ................................................................................ 1,50,000 … Insurance ................................................................................ 36,000 … 8% Bank Loan ................................................................................ … 2,50,000 Debtors ................................................................................ 2,06,000 … Creditors ................................................................................ … 1,89,000 Cash in Hand ................................................................................ 15,000 … Total 28,05,000 28,05,000 Adjustments:(i) Closing Stock ₹ 6,40,000.(ii) Wages Outstanding ₹ 24,000.(iii) Bad Debts ₹ 6,000 and Provision for Bad and Doubtful Debts to 5% on Debtors.(iv) Rent is paid for 11 months.(v) Loan from bank was taken on 1st October, 2017.(vi) Provide Depreciation on Machinery 10% p.a.(vii) Provide Manager’s Commission at 10% on net profit after charging such commission.