X does not maintain proper books of account. From the following information, prepare Trading and Profit & Loss Account for the year ended December 31, 2017 and a Balance Sheet as on that date: Assets and Liabilities On 31.12.2016 On 31.12.2017 Sundry Debtors 9,000 12,500 Stock 4,900 6,600 Furniture 500 750 Sundry Creditors 3,000 2,250 Analyses of the other transactions are: Cash collected from Debtors Cash paid to Creditors Salaries Rent Office Expenses Drawings Fresh Capital Introduced Cash Sales Cash Purchases Discount Received Discount Allowed Return Inward Return Outward Bad Debts He had 2,500 cash at the beginning of the year. 30,400 22,000 6,000 750 900 1,500 1,000 750 2,500 350 150 500 400 100