Python Code Correction and Formatting

I need a Python script to scan a source text file and format an output text file. The script should extract and reorganize data characters, and format the output with specific character/numeric size spacing.

Requirements:
- Text file as input
- Text file as output
- Correct code to extract and reorganize data
- Format output with specific character/numeric size spacing

Ideal Skills:
- Proficiency in Python
- Experience with text file manipulation
- Strong understanding of data extraction and formatting

Please provide a brief overview of your experience and approach and please do not bid for this task if you are a beginner, immediate python coder. But thanks