A keeps his books by single entry system. His position on 1st Jan 2011 was as follows: Machinery and plant -Rs 6500 Cash at bank Rs 5000 Cash in hand Rs 1000 Bills receivable Rs 2600 Stock Rs 7000 creditors Rs 2500 Sundry debtors Rs 8400 Bills payable -Rs 4000 On 31st Dec 2011 his position was as under Cash at bank Rs 4300 Cash in hand Rs 1700 Stock Rs 9000 Machinery and plant Rs 6500 Bills receivable Rs 3200 Creditors Rs 160 Bills payable - Rs 3200 Sundry debtors Rs 6000 During the year a introduced further capital of Rs 2000, and his drawings were Rs. 800 per month Depreciate machinery and plant by 5% and create a reserve for bad and doubtful debts at 5%.from the above information prepare a statement showing the profit and loss made by him for the year ended 31st Dec 2011