Ramy commenced business as a cloth merchant on 1.4.1989 with capital of Rs. 10,000. On the same date, he purchased furniture for cash Rs. 3,000. From the following particulars obtained from his books kept by single entry, you are required to prepare a trading and profit and loss account for the year ending 31.3.1990 and a balance sheet as on the same date. Sales (inclusive of cash Rs 47,000) - Rs 1,17,000 Purchases (inclusive of cash Rs 14,000) - Rs 95,000 Ramu's drawings - Rs 11,200 Salaries to staff - Rs 12,000 Bad debts written off - Rs 500 Business expenses - Rs 10,700 Rama took cloth worth Rs 500 from the shop for private use and paid Rs 200 to his son but omitted to record these transactions in his books. On 31.3.1990, his sundry debtors were Rs 5,200 and sundry creditors were Rs 13,600. Stock in hand was Rs 16,500 on 31.3.1990.