Q$2.$ The following is the summarized transactions and Profit and Loss Account for the year ending March $31,2007$ and the Balance Sheet as on that date.

$\backslash$table$[[$Expenses$/$Losses$,$Amount $(),$Revenue$/$Gains$,$Amount $()],[$Opening Stock,$5,000,$Sales,$50,000],[$Purchases$,25,000,$Closing Stock,$7,500],[$Direct Expenses,$2,500,,],[$Gross Profit,$25,000,,57,500],[,57,500,,25,000],[$Administrative Expenses,$7,500,$Gross Profit,$],[$Interest$,1,500,,],[$S$.$Iling Expenscs,$6,000,,25,000],[$Nal Profit,$10,000,,]]$

B ance sheet:

$\backslash$table$[[$Lial illities,Amount $(),$Assets,Amount $()$