QXC as registered with an authorized capital of RS. 3,500,000 divided in to RS 10 shares. The company books showed the following balance as on 30 June 2004

Debit balance

Plan assets 3,750,000

Cash 100,000

A/c receivable 162,500

M. inventory 62,500

Sales. Return 7,000

Purchases 1,245,000

Transportation 20,000

Salaries exp 145,000

Prepaid Advertising 20,000

Director Fees 215,000

Credit Balance

Sales revenue 1,875,000

Commission income 20,000

Accumulated depreciation 350,000

Retained earnings 367,500

Paid up capital 2,500,000

Debentures Payable 500,000

A/c payable 112,500

Purchases Return 2,000

Data For Adjustment

M. inventory 45,000

Advertising expired 15,000

Prepaid Salary 25,000

Depreciation on exp 5,000

Commission earned but not received 5,000

Required

• Income statement
• Balance sheet
• Vertical income statement and balance sheet
• Liquidity ratio
• Activity ratio
• Profitability ratio