The following balances have been extracted from the trial of M/s Haryana Chemical Ltd. You are required to prepare a trading and profit and loss account and balance sheet as on March 31, 20170 from the given information. Account Title Amount Rs Account Title Amount Rs Opening stock 50,000 Sales 3,50,000 Purchases 1,25,500 Purchases return 2,500 Sales return 2,000 Creditors 25,000 Cash in hand 21,200 Rent 5,000 Cash at bank 12,000 Interest 2,000 Carriage 100 Bills payable 1,71,700 Free hold land 3,20,000 Capital 3,00,000 Patents 1,20,000 General Expenses 2,000 Sundry Debtors 32,500 Building 86,000 Machinery 34,500 Insurance 12,400 Drawings 10,000 Motor vehicle 10,500 Bad debts 2,000 Light and Water 1,200 Trade expenses 2,000 Power 3,900 Salary and Wages 5,400 Loan a 15% (01.09.2010) 3,000 8,56,200 8,56,200 Adjustments1. Closing stock was valued at the end of the year Rs 40,000.2. Salary amounting Rs 500 and trade expense Rs 300 are due.3. Depreciation charged on building and machinery are 4% and 5% respectively.4. Make a provision of 5% on sundry debtors.