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A firm starts it's operations on 1st April, 2019, by the infusion of Rs 50,00,000,...

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Accounting

A firm starts it's operations on 1st April, 2019, by the infusion of Rs 50,00,000, keeping a D/E of 1.5. The debt carries an annual interest obligation of 7%. It has acheived Sales of Rs 10 Million in the FY 2019-20, at a mark up of 33 1/3% on Cost. The Operating Expenses (including Depreciation) were restricted to 20% of the Gross Profits. Taxes were provided @ 30%. Construct a Profit & Loss Account in the Vertical Format?

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