From the following information and Receipts and Payments Account of Delhi Medical Society, prepare Income and Expenditure Account for the year ended 31st March, 2018 and Balance Sheet as at that date. RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31st March, 2018 Dr. Cr. Receipts (₹) Payments (₹) To Balance b/d 31,900 ​By Rent 16,800 To Entrance Fees 5,500 By Wages 24,500 To Subscriptions 1,80,000 By Lighting Charges 7,200 To Donations 16,500 By Books 24,800 To Life Membership Fees 25,000 By Medicines (Polio Eradication Project) 1,00,000 To Government Grant (Polio Eradication Project) 2,00,000 By Salaries to Doctors(Polio Eradication Project) 80,000 To Proceeds of Seminar 23,200 By Office Expenses 45,000 To Interest on Deposits 2,400 By 8% Fixed Deposits 1,20,000 (On 1st October, 2017) By Seminar Expenses 20,200 By Cash in Hand 26,000 By Bank A/c (Polio Eradication Project) 20,000 4,84,500 4,84,500 Other information:On 31st March, 2017, the club possessed books of ​₹ 2,00,000 and Furniture of ₹ 85,000. Provide depreciation on these assets 10% including the purchases during the year.Subscriptions in arrears in the beginning of the year amounted to ₹ 3,500 and at the end of the year ₹ 5,500 were outstanding.​The Club paid three months' rent in advance both in the beginning and at the end of the year.