The following are the comparative Balance Sheets of Nadeem Ltd. DEBIT BALANCES 31.12.2008 31.12.2009 Cash 90,000 1,26,000 Accounts Receivable (Net) 1,50,000 2,48,000 Merchandise Inventory 2,28,000 1,84,000 Machinery 5,10,000 3,90,000 Land 2,40,000 3,90,000 Patents 1,20,000 1,02,000 TOTAL 13,38,000 14,40,000 CREDIT BALANCES Accounts Payable 1,80,000 1,45,000 Unpaid Expenses 1,44,000 1,91,000 Debentures Payable 2,40,000 1,20,000 Ordinary Share Capital 4,80,000 6,00,000 Share Premium 1,20,000 1,50,000 Retained Earnings 1,74,000 2,34,000 TOTAL 13,38,000 14,40,000 At the end of 2009, declared cash dividend Rs.90,000 and Stock Dividend Rs.1,50,000. The following are the comparative Balance Sheets of Nadeem Ltd. DEBIT BALANCES 31.12.2008 31.12.2009 Cash 90,000 1,26,000 Accounts Receivable (Net) 1,50,000 2,48,000 Merchandise Inventory 2,28,000 1,84,000 Machinery 5,10,000 3,90,000 Land 2,40,000 3,90,000 Patents 1,20,000 1,02,000 TOTAL 13,38,000 14,40,000 CREDIT BALANCES Accounts Payable 1,80,000 1,45,000 Unpaid Expenses 1,44,000 1,91,000 Debentures Payable 2,40,000 1,20,000 Ordinary Share Capital 4,80,000 6,00,000 Share Premium 1,20,000 1,50,000 Retained Earnings 1,74,000 2,34,000 TOTAL 13,38,000 14,40,000 At the end of 2009, declared cash dividend Rs.90,000 and Stock Dividend Rs.1,50,000