On 1st April, 2017, X started a business with ₹ 40,000 as his capital. On 31st March, 2018, his position was as follows: Particulars (₹) Creditors ................................................................................ 30,000 Bills Payable ................................................................................ 10,000 Bank ................................................................................ 10,000 Debtors ................................................................................ 50,000 Stock ................................................................................ 40,000 Plant ................................................................................ 68,000 Furniture ................................................................................ 12,000 During the year 2017–18, X drew ₹ 24,000. On 1st October, 2017, he introduced further capital amounting to ₹ 30,000. You are required to ascertain profit on loss made by him during the year 2017–18.Adjustments:(a) Plant is to be depreciated at 10%.(b) A provision of 5% is to be made against debtors, Also prepare the Statement of Affairs as on 31st March, 2018.