Following is the trial balance of Standard Ltd as on 31st March 2020:                                                                                                             Debit               Credit Stock on 31st March 2019                                                                  75000 Sales                                                                                                                           350000 Purchases                                                                                            245000 Wages                                                                                                 50000 Discount                                                                                                                      5000 Furniture and fittings                                                                          17000 Salaries                                                                                               7500 Rent                                                                                                    4950 Sundry expenses                                                                                 7050 Profit and loss appropriation Account on 31st March 2020                                       15030 Dividend paid                                                                                     9000 Share capital                                                                                                               100000 Debtors and creditors                                                                          37500             17500 Plant and machinery                                                                           29000 Cash and bank                                                                                    16200 Reserve                                                                                                                       15500 Patent and trade mark                                                                                     4830            ______             _______ 503030             503030 ______            _______ Prepare Profit and loss account for the year ended 31stMarch 2020 and balance sheet as on that date after taking into consideration the following adjustments:   Stock on 31st March 2020 was valued at Rs.82000 Depreciation on fixed assets @ 10% Make a provision for income tax @ 50% Provide corporate dividend tax @ 10%.