i. From the following Trial Balance of Muneeb Traders prepare Income Statement for the year ended 31-3-2015 and the Balance Sheet as on that date: Debit Balance iii. iv. V. Purchases Wages Inventory 1-4-2014 Printing Insurance Paid (upto 30-9-2015 for 1 year) Salaries Carriage Inwards Stationery Advertising Building Cash in hand Patents Total Adjustments: Machinery Accounts receivable Returns Rs. 196,000 Sales 42,000 Capital 50,000 Accounts Payable 34,000 Returns 4,400 Loan 64,000 Rent received 20,000 28,000 24,000 70,000 Credit Balance 120,000 60,000 4,000 4,600 40,000 761,000 Rs. 424,000 220,000 70,000 4,600 36,000 6,400 761,000 Closing Stocks valued at Rs. 52,000. Outstanding Expenses are: Wages Rs. 3,600, Salaries Rs. 7,600, and Printing Bill Rs. 2,400. Depreciate Machinery at 10% p.a on cost. Patents are to be revalued on 31-3-2015 at Rs. 36,400. Rent earned Rs. 3,000 Required From the following Trial Balance of Muneeb Traders prepare Income Statement for the year ended 31-3-2015 and the Balance Sheet as on that date: