Devesh, Reserves & surplus is one of the constituents of net worth. This 3 statement model is meant to be a simplistic one and hence the net worth is simply defined as Assets - Liabilities and not broken down into reserves and surplus. But you are right - in a more detailed balance sheet we would show the reserves and surplus separately. Like for example in page 12 of this balance sheet, the main sheet has only net work and then reserves and surplus are separately broken down - http://www.sebi.gov.in/dp/jubilantdraft.pdf

Devesh, you are right I should have subtracted depreciation from Fixed Assets in the first month itself. Will fix that. Thanks