The Income statement for the year ended 31st December, 1998 and the balance sheet of R Ltd., as on 1st January 1998 are set out below: INCOME STATEMENT FOR THE YEAR ENDED 31ST DEC,1998 $. $. Sales 1,50,000 Cost of goods sold: Opening Stock (FIFO) 30,000 Purchases 60,000 Cost of goods available for sale 90,000 Less: Closing Stock (FIFO) 10,000 80,000 Gross Profit on Sales 70,000 Operating expenses 20,000 Depreciation 10,000 Interest on Loan 5,000 35,000 Retained earnings 35,000 BALANCE SHEET AS ON IST JANUARY, 1998 $ $ Share Capital 1,00,000 Plant and Machinery 1,00,000 Bank Loan 25,000 Stock 3:0,000 Creditors 35,000 Debtors 18,000 Cash 12,000 1,60,000 1,60,000 Debtors and creditors balances remained constant throughout the year. General price indices were as given below: On the January 1998: 200 Average for the year : 240 On 31st December 1998: 300 You are required to prepare the final accounts for the year 1998 after adjusting price level changes under CPP method.