PROBLEM 5 From the following particulars, prepare Profit and Loss Account of the Safety Bank for the year ended 31st March, 2010. ('000) * ('000) Interest on Deposits 3,200 Discount on Bills Discounted 1,490 Commission (Cr.) 100 Interest on Overdrafts 1,600 Interest on Loans 2,490 Interest on Cash Credits 2,320 Sundry Charges (Dr.) 100 Auditors' Fees 35 Rent and Taxes 200 Directors' Fees 16 Payment to Employees 500 Bad Debts to be written off amounted to 300