From the following balance sheets of X Ltd., prepare a statement of changes in working capital on 31st December, 2008:

Liabilities 2007 2008 Assets 2007 2008 Rs. Rs. Rs. Rs.

B/P 12,000 18,000 Goodwill 20,000 15,000 Creditors 55,000 40,000 Cash 60,000 40,000 Bank Loan 30,000 — B/R 80,000 86,000 Capital 1,50,000 1,25,000 Inventory (stock) 1,20,000 90,000 Retained 93,000 1,17,000 Investments (Long earnings term) 10,000 15,000 Land 47,000 49,000 _______ _______ Preliminary Expenses 3,000 5,000 3,40,000 3,00,000 3,40,000 3,00,000