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From the following information of Mr. Talapatra, prepare a Trading A/c, Profit & Loss A/c for the year ended on 31.12.20 and a Balance Sheet as on 31.12.20: 6+6+8 Gross Profit Ratio 33% Net Profit 25% of turnover Stock Turnover Ratio 10 times 1 Current Liabilities/External Liabilities 4 Fixed Assets/Closing Capital 5 4 1 Closing Capital/External Liabilities Fixed Assets/Current Assets 7 Fixed Assets 40,00,000 Closing stock is 4,40,000 which is 10% more than the opening stock