$($b$)$ Prepare Income Statement for Year ended $31$st Dec $2023$ from the below information as per schedule III of companies Act $2013.$

Gross Revenue Rs $1,000,000$

Purchase of Raw material Rs $5,60,000$

Opening Raw material Rs $2,00,000$

Closing of raw material Rs $60,000$

Depreciation Rs $25,000$

Selling expenses Rs $5,000$

Retirement benefit expense Rs $50,000$

Salary expense Rs $70,000$

Office equipment $($life less than $1$ year$)$ Rs $50,000$

Interest expense Rs $7,000$

Tax Expenses Rs $45000$

Extra ordinary Expenses Rs $60,000$