4. The balance sheet of Selim Traders as on 31st December 2017 had: Rs.1,00,000 in cash, Rs.150,000 for office equipment, Rs.50,000 receivable and Rs.40,000 payable. In January 2017, his business transactions were as follows: 2018, Jan. And taking a loan of Rs. 50,000 from a bank through 5 10% payable net. 99th Rs. 30,000 in cash and Rs. 90,000 on credit. Purchase of three months' rent Rs. 15,000. 12 Miscellaneous expenses Rs. 1,200. 18 3% transaction sale 1,20 , Rs. 60,000 (60% in cash, 40% on loan). 25 Rs. 30,000 was received from one buyer. Show the effect of the transaction in the equation c. Prepare the income statement for the month ended 31st January 2016.