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2. Prepare a common size financial statement based on the details provided Balance Sheet as at 31 March 2016 Liabilities Rs Assets Rs Sundry Creditors 10,500 Cash 6,750 Outstanding expenses 19,500 Debtors 27,750 Loans 56,250 Prepaid Expenses 55,000 Capital 1,64,250 Stock 25,000 Reserves 25,000 Other Current Assets 2,500 Fixed Assets 1,58,750 2,75,750 2,75,750 Income Statement for the year ended 31 March 2016 Expenses Rs Income Rs To Cost of Goods Sold 1,77,750 By Net Sales 3,17,250 To Selling Overheads 90,000 By Other Income 3,000 To Admin and Gen Expenses 23,000 To Tax 8,500 To Loss on Sale of Investments 12,000 To Net Income 9,000 3,20,250 3,20,250