E2 From the following trial balance of Iran bank, prepare the profit and loss account and the balance sheet for the year ended 31/12/2019. (10 marks) Particulars OMR OMR Share capital(Cr) 4,000 Money at call and short notic(Dr) 1,600 Reserve fund(Cr) 1,400 Cash in hand(Dr) 1,300 Deposits(Cr) 5,000 Cash at bank (Dr) 1,900 Borrowing from NBO(Cr) 1,000 Investments in government securities(Dr) 1,800 Secured loans(Dr) 3,000 Term loan(Dr) 1,000 Plant & Machinery less depreciation(Dr) 1,160 Furniture less depreciation(Dr) 240 Rent (Dr)10 (Cr) 120 Interest and discount (Cr) 1,600 Commission and brokerage(Cr) 140 Interest paid on deposits(Dr) 600 Salary(Dr) 300 Interest paid on borrowings (Dr) 100 Operating expenses(Dr) 250 Total 13,260 13,260 Adjustments: I. Provide OMR 40 for doubtful debts

II.Provide OMR 20 for rebate on bills discounted

III.Acceptance and endorsements on behalf of customers amounting to OMR 800

IV. Provide OMR 120 for taxes.