a company was incorporated on 30 june 2010 to acquire the business of veer singh as 618318

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A company was incorporated on 30 June 2010 to acquire the business of Veer Singh as from 1 January 2010. The accounts for the year ended 31 December 2010 disclosed the following:

There was a gross profit of Rs.14,40,000
The sales for the year amounted to Rs.72,00,000, of which Rs.32,40,000 were for the first 6 months.
The expenses debited to profit and loss account included:


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Bad Debts	21,600
Advertising (Under a monthly Contract of 6,000)	72,000
Salaries	3,84,000
Preliminary Expenses Written off	30,000
Donation to Political Parties by Company	30,000

You are required to prepare a statement showing profit made before and after incorporation

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