Balance sheet and profit and loss account of JB Sons Company Limited as on December 31, 19X1 and 19X2 are as follows:
Table 1: JB Sons
Balance Sheet
as on 31 December (Rs)
Liabilities 19X1 19X2 Assets 19X1 19X2
Accounts payable 15,000 25,000 Cash balance 5,000 2,000
Cash credit 13,000 10,000 Accounts
Outstanding receivable 10,000 8,000
expenses 2,000 3,000 Loan and
Long-term loan 30,000 20,000 advances 5,000 -
Capital 30,000 30,000 Inventories 20,000 25,000
Surplus 10,000 12,000 Fixed assets (net) 60,000 65,000
100,000 1,00,000 100,000 100,000
Table 2: JB Sons Company
Profit and Loss Account
for the year 19X2 (Rs)
Sales 200,000
Less: Cost of goods sold (including
depreciation of Rs 10,000) 170,000
Gross profit 30,000
Less: Other expenses 20,000
Income before tax 10,000
Less:Income-tax provision 5,000
Income after tax 5,000
Prepare a statement of sources and uses of funds.