The following is the trial balance of Mr. Amar Chand as at 31st March, 2016:- Dr. (₹) Cr. (₹) Stock on 1st April, 2015 62,000 - Purchases and Sales 3,15,000 4,48,000 Returns 3,700 2,500 Sundry Debtors and Creditors 80,000 43,000 Bills Receivable and Payable 12,100 4,300 Drawings and Capital 30,000 2,00,000 Cash in Hand 24,800 - Balance with Bank of Tokyo 32,800 - Discount 2,600 3,800 Carriage on Purchases 7,500 - Carriage on Sales 1,200 - Bad-Debts 2,400 - Bad-Debts Provision - 3,000 Furniture on 1st April, 2015 10,000 - New Furniture purchased on 1st January, 2016 6,000 - Rent 10,000 - Salaries 25,000 - Commission - 2,400 Repairs 2,300 - Insurance (Annual Premium paid on 1st Jan., 2016) 3,600 - Salaries Outstanding - 5,000 Sales Van 75,000 Sales Van Expenses 6,000 7,12,000 7,12,000 Taking into account the following adjustments, prepare Trading and Profit & Loss Account and the Balance Sheet as at 31st March, 2016:-1. Stock on 31st March, 2016 was valued at ₹ 46,000.2. Depreciate Furniture at 15% p.a. and Sales Van at 20% p.a.3. A sum of ₹ 200 is due for repairs.4. Write off ₹ 2,000 as further bad-debts and create a provision for doubtful debts 5% on Debtors. Also provide 2% for discount on Debtors.5. Rent is paid at the rate of ₹ 1,000 per month.6. Allow 8% interest on Capital and charge ₹ 1,500 as interest on Drawings.