e16 Illustration 5 From the following Balance Sheets of J. P. Ltd as at 31st December, 2016 and 2017 respectively, prepare a Statement of Changes in Working Capital during the year 2017 Balance Sheet of J. P. Ltd. as at 31st December, 2016 and 2017 Note 31.12.2016 31.12.2017 Particulars No. (1) (2) (3) (4) I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital (1) 40,00,000 40,00,000 (b) Reserves and Surplus (2) 11,20,000 10,70,000 (2) Share Application Money Pending Allotment: (3) Non-current Liabilities: (a) Long-term borrowings 12,80,000 14,30,000 (4) Current Liabilities: (a) Short-term Borrowings (b) Trade Payables - Creditors 16,00,000 25,00,000 TOTAL 80,00,000 90,00,000 II ASSETS (1) Non-current Assets (a) Fixed Assets (0) Tangible Assets (3) 32,00,000 34,75,000 (b) Non-current Investments 8,00,000 8,50,000 (2) Current Assets : (a) Current Investments (b) Inventories - Stock-in-Trade 16,00,000 26,00,000 (c) Trade Receivables 20,00,000 18,75,000 (d) Cash and Cash Equivalents 50,000 25,000 (e) Short-term Loans and Advances 3,50,000 1,75,000 TOTAL 80,00,000 90,00,000 Notes to Accounts: Particulars 01.01.2017 31.12.2017 (1) Share Capital Issued, Subscribed and Paid-up Capital: Equity Shares of 10 each 10% Redeemable Preference Shares 30,00,000 32,00,000 10,00,000 8,00,000 40,00,000 40,00,000 (2) Reserve and Surplus 0) Securities Premium (ii) General Reserve (ii) Profit and Loss Account Balance 3,00,000 5,00,000 3,20,000 11,20,000 3,00,000 5,00,000 2,70,000 10,70,000 (3) Tangible Assets (0) Land at Cost (i) Building (Net) (il) Plant and Machinery 2,00,000 3,00,000 27,00,000 32,00,000 2,00,000 2,75,000 30,00,000 34,75,000