Disraeli and Gladstone are partners, sharing profits and losses in the ratio 2:1. They have agreed that Disraeli should receive a salary of £9,000 and that interest on both partners'

opening capital of 5% p.a. should be allowed. Disrael i's opening capital was £20,000, whereas Gladstone's was £15,000. During the year ended 31 December 2008, Disraeli had drawings of £18,000 and Gladstone drew £14,000. Net profit for the year was £40,000. No partnership current accounts were maintained, and no interest was charged on drawings.

Show the relevant extracts from the partnership income statement for the year (appropriation section only) and its balance sheet at the year-end.