1. From the following particulars presented by Thilak for the year ended 31st March, 2017, prepare profit and loss account. djustments: Outstanding salaries amounted to Rs. 4,000 Rent paid for 11 months Interest due but not received amounted to Rs. 2,000 Prepaid insurance amounted to Rs. 2,000 v. Depreciate buildings by 10% vi. Further bad debts amounted to Rs. 3,000 and make a provision for bad debts@5\% on sundry debtors vii. Commission received in advance amounted to Rs. 2,000 2. X Co. has made plans for the next year. It is estimated that the company will employ total assets of 8,00,000;50 per cent of the assets being financed by borrowed capital at an interest cost of 8 per cent per year. The direct costs for the year are estimated at 4,80,000 and all other operating expenses are estimated at 80,000. The goods will be sold to customers at 750 per cent of the direct costs. Tax rate is assumed to be 50 per cent. You are required to CALCULATE: (i) Operating profit margin (before tax); (ii) net profit margin (after tax); (iii) return on assets (on operating profit after tax); (iv) asset turnover and (v) return on owners' equity