Please, i need step by step solution.

From the following Receipts and Payments Account and additional information, prepare Income and Expenditure Account and Balance Sheet of Sears Club, Noida as on March 31, 2018. Receipts and Payments & Account of Sears Club for the year ended 31-3-2018 Receipts Amount Payments Amount () To Balance b/d 20,000 By Stationery 23,400 To Subscriptions By 12% Investments 8,000 2016-17 40,000 By Electricity expenses 10,600 2017-18 94.000 By Expenses on lectures 30,000 2018-19 7200 1.41,200 By Sports equipment 59,000 To Donations for building 40,000 By Books 40,000 To Interest on Investments 800 By Balance c/d 50.000 To Government Grant 17.400 To Sale of old furniture (Book value 4,000) 1.600 2.21,000 2,21,000 Additional Information: (1) The club has 200 members each paying an annual subscription of 1,000. 360,000 were in artears for last year and 25 members paid in advance in the last year for the current year. Stock of stationery on 1-4-2017 was 3,000 and on 31-3-2018 was 4,000