=+(1) The profit-sharing ratios in the new firm will be as follows:

BECKHAM: ADAMS: NOONAN: NORTON - 10:7:8:5 (2) The balance sheets of the two firms at the date of the amalgamation were as follows:

BECKHAM & ADAMS NOONAN and NORTON

€’000 €'000 Non-current assets 50 30 Current Assets Inventory ‘ 10 18 Receivables 20 13 Bank LS. 2 95 60 Capital Accounts Beckham 50 Adams 25 Noonan 33 Norton 15 Current Liabilities Payables 15 10 Taxation payable we) =

pial 60