Pankaj, Naresh and Saurabh are partners sharing profit in the ratio of 3 : 2 :1. Naresh retired from the firm due to his illness. On that date, the Balance Sheet of the firm was as follows Balance SheetDr as on March 31, 2007 CrCapital and LiabilitiesAmt.(Rs)AssetsAmt.(Rs)General Reserve12,000Bank7,600Sundry Creditors15,000Debtors6,000Bills Payable12,000(-)Provision for(400)––––––5,600Outstanding Salary2,200Doubtful DebtsProvision for Legal Damages6,000Stock9,000Capitals Pankaj46,000Furniture41,000 Naresh30,000Premises80,000 Saurabh20,000––––––––96,000¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,43,200––––––––––––––––––––¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯1,43,200–––––––––––––––––––– Additional Information (i) Premises have appreciated by 20%, stock depreciated by 10% and provision for doubtful debts was to be made 5% on debtors. Further, provision for legal damages is to be made for Rs. 1,200 and furniture brought up to Rs.45,000. (ii) Goodwill of the firm be valued at Rs. 42,000. (iii) Rs. 26,000 from Naresh's Capital account be transferred to his loan account and balance be paid through bank; if required, necessary loan may be obtained from Bank. (iv) New profit sharing ratio of Pankaj and Saurabh is decided to be 5:1. Give the necessary ledger accounts the balance sheet of the firm after Naresh's retirement.