​​From the following Receipts and Payments Account of Mumbai Theatre Club, prepare Income and Expenditure Account for the year ended 31st March, 2018 and Balance Sheet as at that date. RECEIPTS AND PAYMENTS ACCOUNT Dr. Cr. Receipts ₹ Payments ₹ To Cash in Hand 40,000 ​By Salary 20,000 To Cash at Bank 1,00,000 By Repair Expenses 5,000 To Donations 50,000 By Furniture 60,000 To Subscriptions 1,20,000 By Miscellaneous Expenses 5,000 To Entrance Fees 10,000 By Investments 60,000 To Interest on Investments 1,000 By Insurance Premium 2,000 To Interest Received from Bank 4,000 By Billiard Table 80,000 To Sale of Old Newspapers 1,500 By Paper, Ink, etc 1,500 To Sale of Drama Tickets 10,500 By Drama Expenses 5,000 By Cash in Hand (closing) 26,500 By Cash at Bank (closing) 72,000 3,37,000 3,37,000 Additional information :(i) Subscriptions in arrear for the year ended 31st March, 2018 ​₹ 9,000 and subscriptions in advance for the year ended 31st March , 2019 ₹ 3,500.(ii) Insurance Premium outstanding ₹ 400.(iii) Miscellaneous expenses prepaid ₹ 900.(iv) 8% interest has accured oninvestment for five months.(v) Billiard Table costing ₹ 3,00,000 was purchased during last year and ₹ 2,20,000 were paid for it.