(A) From the following information, prepare the balance sheet of Jaxson Ltd, as per Schedule III: Inventories Rs. 7,00,000; Equity Share Capital Rs. 16,00,000; Plant and Machinery Rs. 8,00,000; Preference Share Capital Rs. 6,00,000; General Reserve's Rs. 6,00,000; Bills payable Rs. 1,50,000; Provision for taxation Rs. 2,50,000: Land and Building Rs. 16,00,000; Noncurrent Investments Rs. 10,00,000; Cash at Bank Rs. 5,00,000; Creditors Rs. 2,00,000; 12% Debentures Rs. 12,00.000 (B) Explain Contingent liability and give two examples