Dixon, Cowell, and Cooper are in partnership sharing profits and losses in the ratio 2:2:1, respectively.

During the year ended 31 December 20x5, the net profit of the firm was €30,538. You are also given the following information:

Interest is allowed on partners’ capitals at the rate of 6% per annum. Cowell is entitled to a salary of €9,000 per annum.
The partners agreed that Dixon should withdraw €10,000 from her capital on 1 July 20x5 and that Cooper should contribute a similar amount as of that date.