Mr. Girdhari Lal does not keep full double entry records. His balance as on January 01, 2006 is as.

He withdrew Rs. 500 per month out of which to spent Rs. 1,500 for business purpose. Prepare the statement of profit or loss.

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Liabilities Sundry creditors Bills payable Capital Cash in hand Stock Debtors Furniture Amount Assets Rs. Plant Bills payable Creditors 35,000 15,000 40,000 His position at the end of the year is : 90,000 Cash in hand Cash at bank Sundry debtors Stock Furniture Plant Amount Rs. 5,000 20,000 18,000 22,000 8,000 17,000 90,000 Rs. 7,000 8,600 23,800 15,000 20,350 20,200 15,000