Q1] On August 1,20XX, Sudhir started Business Services Pvt. Ltd, a One Person Company (OPC) by investing cash as share capital of 2,50,000 and in addition, took long-term loan of the same amount @9% p.a. from the local Co-operative Bank to be repaid in 10 years. During the month he purchased office equipment on credit, 31,60,000; office supplies for 30,000 on part payment of $20,000. He took office premises on rent at a monthly rent of Rs.35,000 payable on the fifth of each month and paid office rent for the month of August. During the month, he provided service for cash of 3120,000 and billed customers for service provided of 35,900. He paid insurance premium for the next month, 37,500. He received but not paid electricity bill for the month, 35,500. He paid telephone expense of 8,000; purchased office supplies for cash of 310,000; and paid salaries of 340,000 to the employees, he had hired. He received cash for service to be provided in the next month for 367,000 from some clients. At the end of the month, he paid 780,000 to creditors on account for the equipment he bought on early part of August and paid a dividend of 5,000. He also paid the interest due for his long-term loan. Required: Prepare Income Statement, Statement of Retained Earnings, Balance Sheet as on August 31,20XX. Show the computation of net cash flow from financing activity