Sh. Param Bhushan does not maintain proper books of accounts. From the following, prepare his trading and profit & loss account for the year ended 31st March, 2015, together with balance sheet as at that date: BALANCE SHEET as at 31st March, 2014 Liabilities (₹) Assets (₹) Sundry Creditors 80,000 Cash 22,000 Outstanding Salaries 4,000 Sundry Debtors 1,50,000 Capital 8,08,000 Stock 1,20,000 Plant and Machinery 2,00,000 Freehold Premises 4,00,000 8,92,000 8,92,000 Cash book analysis shows the following: ₹ Payment to Creditors 4,00,000 Staff Salaries 76,000 Rent Paid 17,300 General Expenses (including insurance premium of ₹ 2,400 paid on 1st January 2015 to run for one year) 8,700 Personal Withdrawals 12,000 Received from Debtors 5,50,000 Cash Sales 1,10,000 Purchase of Computers (on 1st January, 2015) 40,000 Purchase of Furniture (on 1st January, 2015) 60,000 The following further information is available:Closing Stock ₹ 1,35,000; Closing Debtors ₹ 1,92,000; Closing Creditors ₹ 72,000; Outstanding Salaries at the end ₹ 6,000; General Expenses include ₹ 5,000 for house rent of Sh. Param Bhushan and Cash Sale include ₹ 30,000 for sale of his personal jewellery.Create a provision of 212% for doubtful debts and depreciate plant and machinery by 10% p.a. and computers and furniture by 20% p.a. Also provide 5% for group incentive commission to staff on net profit after charging such commission.