From the following summary of cash transaction of FT Hospital for the year ended 31st December 2025, prepare Income & Expenditure Account and Balance Sheet as on that date: Receipts & Payment Account for the year

From the following summary of cash transaction of FT Hospital for the year ended 31st December 2025, prepare Income & Expenditure Account and Balance Sheet as on that date: Receipts & Payment Account for the year ended 31st December 2025 Receipts Amount (₹) Payment Amount (₹) To Balance b/d By Salaries 18,560 Cash 800 By Hospital Equipment 7,500 Bank 8360 9,160 By Rent & Taxes 6,500 To Government Grants 5,000 By Office Expenses 4,000 To Subscription By Investment 8,000 2024 1,580 By Balance c/d 2025 15,500 Cash 300 2026 1,250 18,330 Bank 4,180 4,480 To Donation 4,500 To Fees 12,050 49,040 49,040 Additional Information: Government Grants pertains to maintenance. Donations are not to be capitalized. Salaries include ₹ 2,600 for the year 2024. Value of equipment on 31-12-2025: ₹ 18,500 Subscription outstanding as on 31-12-2024 is ₹ 2,250 Investment is made in 9% government securities were made on 1st June 2024.