Form the following information, prepare P & L A/c of Poone Bank Ltd. for the year ended on 31 December 2010.

(Rs. in ’000)

Interest on Loans

5,180

Interest on Fixed Deposits

5,500

Relate on Bills Discounted

980

Commission

164

Establishment

1,080

Discount on Bills Discounted (Net)

2,920

Interest on Cash Credits

4,460

Interest on Current Accounts

840

Rent and Taxes

360

Interest on Overdrafts

3,080

Director’s Fees

60

Auditor’s Fees

24

Interest on Saving Bank Deposits

1,360

Postage & Phone

28

Printing & Stationery

58

Sundry Charges

34

Bad debts to be written off amounted to Rs.8,00,000. Provision for taxation may be made @ 55%.