Based upon the given Trial Balance and the additional information, prepare the statement of profit and loss of Shivam Industries Limited for the year ended 31st March 2017:

Trial Balance of Shivam Industries Limited as on 31st March 2017

Additional Information

1. Stock in hand on 31st March 2017 

₹ 297,360 

2. Provide depreciation on the fixed assets at original cost at the following

3. Interest accrued on investments 

₹ 5,500 

4. Provision for doubtful debts to be made 2% 

5. Provision for tax for the current year to be made 

₹ 120,000 

6. Salary for the month of March 2017 is outstanding 

₹ 4,800 

7. General expenses include insurance paid amounting to ₹ 8,000 for the period from 1st January 2017 to 31st December 2017.

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Particulars Share capital (1,20,000 equity shares of 10 each) General reserve Calls in arrear (20,000 shares at 5 each) Unclaimed dividends Trade Payables Buildings (at cost) Purchases Sales Manufacturing expenses Salaries General expenses Machinery (at cost) Motor vehicles (at cost) Furniture (at cost) Opening stock Trade Receivables Investments Dr. (Amounts in *) 100,000 300,000 1,001,806 718,000 53,628 62,156 400,000 60,000 10,000 344,116 446,760 577,900 Cr. 1,200,000 500,000 13,052 173,716 2,167,894