From the following ledger balances and adjustments of Shivlal Yadav India Associates, prepare the Income Statement and the Balance Sheet for the year ending 31*March 2018 as per Companies Act 2013 format. 2 3 Particulars Debit Credit 4 Stock in trade - opening stock on 1-4-2017 5 Purchases and Sales 6 Returns inward 7 Returns outward s Factory Wages 9 Factory power and lighting. 10 General Expenses 1,30,000.00 2,05,000.00 E 6,48,000.00 4,000.00 5,000.00 20,000.00 20,000.00 15,000.00 11 Salaries 1,00,000.00 12 Outstanding Salaries payable 93,000.00 21,000.00 60,000.00 13 Rent of office. 14 Insurance of various business assets. 15 10% Debentures 2,00,000.00 16 Investments 50,000.00 17 Capital 18 Land and Building 19 Furniture 1,50,000.00 1,00,000.00 20,000.00 1,45,000.00 20 Trade Debtors and Creditors 1,27,000.00 21 Cash in hand and at Bank 68,000.00 22 Plant & Machinery 2,65,000.00 23 Total Z 12,23,000.00 E 12,23,000.00 Further information furnished you and the adjustments to be considered by you in the HY HY HY * 12,23,000.00 23 Total Further information furnished to you and the adjustments to be considered by you in the 24 nrenaration of financial statements are: * 12,23,000.00 1) Closing Stock on 31-3-2018 is Rs, 20,000, valued at Cost. Net realizable value of such 25 2) Depreciate Plant & Machinery by Rs.5,000, Furniture Rs.500 and on Building Rs. 12,000 stock is Rs 15 000/- 26 3) Prepaid Insurance is Rs.500/- for the year. 4) Make a provision for professional fees payable to tax consultant Rs.20,000 5) Interest on Investments to be accounted as Rs.5,000/-. 27 28 29 INote: Treat Investments as short-term investments. 50 31 52 3 34 35