The draft financial statements of P K Ltd for the year ending on 31st March, 2016, represent a profit of ₹ 4,25,000. The following issues have not yet been taken into account:
(a) On 16th April, 2016 the insurance company informed P K Ltd that the insurance claim for a robbery which had taken place on 15th March, 2016 would be restricted to ₹ 25,000. P K Ltd claimed ₹ 75,000 and included at the time of calculating the above profit.
(b) On 10th April, 2016, an accident in the godown destroyed inventory valued ₹ 70,000. What is the revised profit when these issues are taken into consideration ?
A. ₹ 3,05,000
B. ₹ 3,55,000
C. ₹ 3,75,000
D. ₹ 4,00,000