Balance sheet taken from the books of premier Ltd. as at 31-3-2016 is given bellow I. Equity and Liabilities 1 Shareholders' Funds $ (a)Share Capital: Paid-up Capital: 1,20,000 Equity Shares of $10 each fully paid-up 12,00,000 (b) Reserves and Surplus Securities Premium Reserve 6,00,000 Free Reserves 2 Non-current Liabilities Debentures 3 Current Liabilities Creditors Total Equity and Liabilities II. Assets 1 Non-current Assets Fixed Assets 2 Current Assets 18,00,000 25,00,000 11 00 000 72,00,000 36,00,000 (a) Stock 10,00,000 (b) Debtors 8,00,000 (c) Cash and Bank Balance 18,00,000 Total Assets 72,00,000 On the above date shares are bought back by the company to the extent possible, at a premium od $20 per share. Journalise and give the Balance Sheet after buyback of shares