Question:-
X limited commenced operations on 01 .04.2013
Following are some of the details prepared by accountant

Proposed Equity Dividend 40,000
Preference Dividend paid on preference capital at 15 % 15,000
Interest paid on loan borrowed 20,000
Selling & Distribution Expenses 30,000
Gross Profit Ratio 30% on sales
Depreciation 5% on Sales
Fixed Assets turnover ratio (based on Net Fixed Assets) 2 Times
Interest Coverage Ratio 6 Times
Debt Service Coverage ratio 2.75 times
Debtor Turnover Ratio 4 Times
Creditors turnover ratio (purchase and trading expenses) 6 times
Stock Turnover Ratio 5 times

Notes:
A Equity Dividend is proposed at 20 % of equity capital
B Depreciation does not form part of cost of Goods sold
C The loan borrowed on 01.10.2013. The first installment including interest was paid on 31.03.14
The loan was to be paid in ten semiannual installments.
D Income Tax @ 30%

You are required to prepare for the year ended 31.03.2014
a) The profit & loss account
b) Balance Sheet
c) Cash Flow Statement.

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Self attested or principal attested