Progressive Bank Ltd has authorised capital of ₹ 50 lakhs comprising of 50,000 shares of ₹ 100 each, all of which are subscribed. But 70% of the face value of the shares is called up. Bills amounting Rs 4,09,200 are accepted by the bank against security of the value of ₹ 6,20,000 kept with the bank. Depreciation on land and buildings and furniture is to be provided to the extent of ₹ 16,000 and ₹ 7,000 respectively. You are required to prepare Profit and Loss Account and Balance Sheet as on 31st March, 2016 from the following figures:

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Share Capital Fixed Deposit Accounts Current Accounts Savings Bank Deposits Bills Payable Branch Adjustment Account (Cr.) Bills Discounted Borrowings from Other Banks in India Reserve Fund Investments Money at Call and at Short Notice in India Land and Buildings (cost: * 6,00,000) 35,00,000 Profit and Loss Account (Cr.) 81,81,100 Statutory Reserve Fund 60,25,664 Loans, Cash credit and overdrafts 40,46,008 Stamps in hand 2,00,000 Salaries and wages 77,788 Provident fund contribution 29,57,040 Commission, exchange and brokerage 5,00,000 Interest paid on deposits, current accounts, etc. 4,00,000 Audit fees 20,26,250 Directors' fees 1,02,250 Legal charges 4,10,000 Interest and discounts 1,00,640 1,40,000 1,42,40,000 372 84,300 20,000 2,00,000 1,25,000 3,000 10,000 13,300 5,25,000