Vardhman commenced business on 1st April, 2008, with a capital of ₹ 50,000. He immediately purchased furniture of ₹ 20,000. During the year he received from his uncle a gift of ₹ 3,000 and he borrowed from his father a sum of ₹ 5,000. He had withdrawn ₹ 600 per month for his household expenses. He had no Bank account and all dealings were in cash. He did not maintain any books but following information is given : ₹ Sales (including cash sales ₹ 30,000) 1,00,000 Purchases (including cash purchases ₹ 10,000) 75,000 Carriage inwards 700 Wages 300 Discount allowed to debtors 800 Salaries 6,200 Bad-Debts written off 1,500 Trade expenses 1,200 Advertisements 2,200 He used goods worth ₹ 1,300 for personal purposes and paid ₹ 500 to his son for examination and college fees.On 31st March, 2009, his Debtors were worth ₹ 21,000 and Creditors ₹ 15,000. Stock in trade was valued at ₹ 10,000. Furniture to be depreciated by 10% p.a.Prepare trading and Profit and Loss Account for the year ended on 31st March, 2009, and Balance Sheet as at 31st March, 2009.