Here is the Trial balance. Make the Income Statement for the year 31 December 2015 and also make Balance sheet. Do it carefully and correctly. Name of Accounts Dr. Cr. Cash in Hand 11,70,000 Capital Account 500,000 Purchase Account 210,000 Account Payable 40,000 Rent Account 500,000 Account Receivable 55,000 Sales Account 335000 Commission Account 300,000 Bank Account 640,000 Creditor Account 400,000 Interest Payable Account 800,000 Loan Account 850,000 Interest on Loan Account 800,000 Expense Account 600,000 Services Account 20,000 Land Account 750,000 Owner's Equity Ali Account 200,000 Insurance Account 40,000 Discount Account 40,000 4125000 4125000 Closing Inventory at 31 December 2015 was 19,000 $