The following is the Trial Balance of Shivam Ltd as on 31st March, 2024 : ParticularsDr. (₹000)ParticularsCr. (₹000) Land at Cost148Equity Share of ₹10 each200 Plant & Machinery at Cost52010% Debenture of ₹100 each135 Debtors65General Reserve90 Closing Stock58Profit & Loss A/c48 Bank14Security Premium27 Adjusted Purchases226Sales473 Factory Expenses40Creditors35 Administration Expenses22Provision for Depreciation116 Selling Expenses20Suspense A/c3 Debenture Interest14 Total1,127Total1,127 Additional Information: • On 31st March, the Company issued Bonus Shares to the Shareholders on 1 : 2 basis (one equity share issued as bonus for every 2 equity shares held). No entry relating to this has yet been made. • The Authorized Share Capital of the Company is 35,000 Equity Shares of ₹10 each. • The Company, on the advice of an independent valuer, revalued the Land at ₹2,45,000. • The Directors declared a Dividend of 10% on 5th April, 2024 and also transferred profit @ 10% to General Reserve. • Suspense Account of ₹3,000 represents cash received for the Sale of some Machinery on the 1st day of the financial year 2023-24. Cost of this Machinery was ₹10,000 and Accumulated Depreciation thereon being ₹8,000. • Depreciation is to be provided on Plant & Machinery at 10% on Cost. • Provision for Income tax is required@ 30%. You are required to prepare Shivam Ltd.'s Profit and Loss A/c for the year ended 31st March, 2024 and Balance Sheet as at that date as per the provisions of the Companies Act, 2013 after considering the above information. Ignore previous year figures.