Question: Consider the following trial balance information of Thal Engineering Ltd company for the year 2021. Accounting heads Debit Credit Rs. Rs. Bad debts 305 1,506 1,615 500 600 Advertisement Telephone Bill Stationery Repairs Sales Revenue 40,600 Purchases Expense Salaries and wages Machinery 28,500 4,850 12,500 Creditor 5,250 Debtors Furniture Land 7,810 5,600 28,000 7,218 Drawings Rent Income Capital Total 1,000 52,154 99,004 99,004 Closing stock valued at Rs. 9,960 Required: 1. Prepare a balance sheet and income statement using the trial balance information. 2. Use available information in your balance sheet and income statement and perform a financial ratio analysis for 2021. 3. Using financial ratios, give your brief assessment of the financial position of Thal Engineering Ltd company. Instructions Show your work by eliminating balance sheet and income statement accounts. Use the below format to make financial statements (see appendix). Your cover page must have the full names and IDs of the group members. Must have acknowledgment, table of content and executive summary, etc. Font style must be Times new roman with a font size of 12. You can use a graphical presentation in your report. Report and PowerPoint presentation must be submitted together on CN before the deadline.