Following are the balances from the books of Everymans Bank Ltd as on March 31, 2016:

Prepare the Profit and Loss Account for the year ending March 31, 2016 and also the Balance Sheet as on that date after taking note of the following:
Provision needed for taxation: ₹ 5,00,000. Current Account includes ₹ 42,50,000 debit balances being overdraft. One of the Account for ₹ 50,000 (including interest ₹ 5,000) is doubtful. During the year, a property was acquired in satisfaction of a claim amounting to ₹ 25,000 and was sold for ₹ 18,000. The loss resulting therefrom remained unadjusted in the books.

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Current deposits Savings Accounts Fixed and time deposits Compulsory deposits of Income Tax payers Sundry creditors Debts due to banks (secured) Bills receivable Customer's liability for acceptances Rebate on bills discounted Branch adjustments (credit) Reserve Fund Capital (authorised, issued, subscribed & paid-up) 1,00,000 shares of ₹ 50 each Interest and discount received Exchange and commission received Profit and Loss Account Balance as on 1.4.2015: Cash on hand Cash at bank 2,27,50,000 Bills for collection 82,60,000 Liabilities for customers acceptances 1,75,90,000 Investments : 10,00,000 Government Securities 2,27,500 Shares 61,00,000 Interest accrued on investments 90,50,000 Loans 75,84,000 Bills purchased and discounted 7,500 Furniture, fixtures and office equipment 22,77,500 Depreciation on assets 62,50,000 Interest paid Exchange and commission paid 50,00,000| Salaries 29,00,000 Directors' fees 8,77,500 Stationery, postage, etc. Miscellaneous expenses 4,26,000 Land and building 6,53,500 Money at call 30,00,000 Non-banking assets (figures in *) 90,50,000 75,84,000 1,70,00,000 79,50,000 4,37,500 2,08,50,000 1,77,50,000 2,50,000 2,50,000 6,00,000 50,000 12,00,000 50,000 2,00,000 1,50,000 15,00,000 7,50,000 25,000