Tonu and Monu Khan, neighborhood tennis stars, opened the TM Sports Ground on September 1, 2020, by contributing tk.25,000 of their cash investment funds within the trade. A caddy shack was developed for cash at a fetched of tk.8,000, and tk.800 was went through on tennis balls and tennis clubs. The Khans rented five sections of land of arrive at a fetched of tk. 1,000 per month and paid the primary month's lease. Amid the primary month, publicizing costs totaled tk. 750, of which tk.150 was unpaid at September 31, and tk.400 was paid to individuals of the high-school tennis team for recovering tennis balls. All incomes from clients were stored within the company's bank account. On September 15, Tonu and Monu pulled back a add up to of tk.1,000 in cash for individual living costs. A tk. 100 utility bill was gotten on September 31 but was not paid. On September 31, the adjust within the company's bank account was tk.18,900. Tonu and Monu thought they had a lovely great to begin with month of operations. But, their gauges of benefit extended from a loss of tk.6,100 to net income of tk.2,450. Instructions: With the class divided into groups, answer the following. (a) How could the Khans have concluded that the business operated at a loss of tk. 6,100? Was this a valid basis on which to determine net income? (b) How could the Khans have concluded that the business operated at a net income of tk.2,450? (Hint: Prepare a balance sheet at September 31.) Was this a valid basis on which to determine net income? (c) Without preparing an income statement, determine the actual net income for September. (d) What was the revenue earned in September? 4