Nimal, Sunil and Rohan are carrying on a business with the following agreements. 

1. Nimal and Rohan re to be credited with monthly salary of Rs. 5,000 and Rs. 7,500 respectively. In addition to that 5% interest should paid to the opening balance of capital accounts of each partners. 

2. Drawings are made as follows: 

Nimal Rs. 6,250 at the start of every month, Sunil Rs 3,600 at the middles of every month and Rohan Rs. 7,500 at end of every month. Interest on drawings charged at 12% per annum. 

3. Profit and loss sharing ratio among partners should be 2:2:1 

The trial balance as at 31/03/2X14 was as follows:

 

You are required to prepare:

1. Income statement for the year ended 31/03/3X14

2. Statement of Financial Position as at 31/03/3X14

3. Partners' current accounts

Dr Cr Capital Accounts as at 01.04.2X13- Nimal 1,000,000 Sunil 625,000 Rohan 375,000 Dr Cr Capital Accounts as at 01.04.2X13- Nimal 1,000,000 Sunil 625,000 Rohan 375,000