Q1. From the given information about Larsen & Turbo Ltd. For the years that ended on 31" March 2020 and 2021, prepare a comparative balance sheet as on 31" March 2020 and 2021 and interpret the financial position of the company. 31st 31st 31st 31st LIABILITIES ASSETS March,2020) March 2021(1) March,2020) March,2021() Equity Share 5,00,000 6,00,000 2,00,000 1,00,000 Capital Land & Building General 40,000 50,000 1,50,000 2,00,000 Reserves Plant & Machinery Creditors 2,40,000 70,000 Investments 2,97,000 2,00,000 Bills Payable 50,000 25,000 Stock 40,000 30,000 Outstanding 50,000 NIL 50,000 50,000 Expenses Debtors Bills Receivables 63,000 1,00,000 Profit & Loss A/C 70,000 60,000 Discount on issue of 10,000 5,000 shares 8,80,000 7,45,000 8,80,000 7,45,000 [10 Marks]