Selected accounts from the trial balance as at 30 June 2026 of the partnership of Delta, Alpha and Omega are as follows.

End-of-period adjustments for the financial year ended 30 June 2026 have yet to be made as follows.
1. The partnership accountant has duly paid cash for Omega’s agreed salary as part-time manager (\($32000\) p.a.) but was uncertain how to charge it.
2. Interest accrued to ABC Bank Ltd — \($1800\).
3. Partners have agreed to the following arrangements.
i. 6% p.a. interest on fixed capitals.
ii. 10% interest on total drawings for the year, which were as follows.

iii. 8% p.a. interest on advance from Delta.
iv. Profits/losses to be shared 2:2:1 by Delta, Alpha and Omega respectively.
Required

(a) Complete the Profit or Loss Summary account for the year ended 30 June 2026.

(b) Prepare the Profit Distribution account.

(c) Complete each partner’s Retained Earnings account after all adjustments.

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Delta, Capital Delta, Retained earnings Alpha, Capital Alpha, Retained earnings Omega, Capital Omega, Retained earnings Loan ABC Bank Ltd Omega, Salary Advance, Delta (repayable in November 2027) Profit or loss summary (after usual adjusting and closing entries for profit determination) Debit Credit $ 102 500 26 000 112 800 32 000 108 000 24 500 85 000 $ 32 000 18 000 148 000