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Exercise: Mr. Nadeem has filled following wealth statement as on 30.06.2017 Plot at DHA, Lahore 3,500,000 Capital in ABC & Co Jewelry Shares in XYZ (Pvt.) Ltd Cash 2,500,000 500,000 1,000,000 1,500,000 2,000,000 11,000,000 1,000,000 10,000,000 Bank TOTAL Personal Loan TOTAL During the year following information is provided: He earned salary income of Rs. 1,200,000 and paid tax Rs. 100,000. He sold share of Rs. 200,000 for a consideration of Rs. 350,000. He settled his personal loan of Rs. 500,000. His household expenses aggregates to Rs. 850,000. He has given gift of Rs. 400,000 to his brother Kamran through crossed cheque. He has earned profit on ABC & Co of Rs. 450,000. His drawings from the firm during the year was Rs. 275,000. He paid tax of Rs.40,000 on firm income. He purchased a new plot at EME society for total consideration Rs. 2,000,000 payable in 20 installments. During the year. He paid Rs. 700,000 in installments. On 30th June 2017, his bank balance was Rs. 475,000. Required: Prepare the wealth reconciliation statement and wealth statement for 2017