From the following Trial Balance and other information prepare Trading and Profit and Loss Account for the year ended 31st March 2016 and Balance Sheet as at that date. Heads of Accounts Debit (₹) Credit (₹) Sundry Debtors 32,000 Stock (1st April 2015) 22,000 Cash in hand 35 Cash at bank 1,545 Plant and Machinery 17,500 Sundry Creditors 10,650 Trade Expenses 1,075 Sales 1,34,500 Salaries 2,225 Carriage Outwards 400 Rent 900 Bills Payable 7,500 Purchases 1,18,870 Discounts 1,100 Premises 34,500 Capital (1st April 2015) 79,500 Total 2,32,150 2,32,150 Additional Information:Stock on 31st March 2016 was ₹ 12,450. Rent was unpaid to the extent of ₹ 85 and ₹ 150 were outstanding for Trade Expenses. ₹ 400 are to be written off as bad debts out of the above debtors, and 5% is to be provided for doubtful debts. Depreciate plant and machinery 10% and premises by 2%. Manager is entitled a commission of 5% on net profit after charging his commission.