1. Khary and Kwame operate a travel agency as a partnership. Khary put in capital of 540 000 and Kwame $25 000. During the year Kwame loaned the partnership 516 000. The partnership agreement states that interest on loans is 12% p.a. interest on capital is 10% p.a. partnership salaries are Khary $40 000 p.a. Kwame 548 000 p.a. The interest on the loan has not been paid. The trial balance at December 31, 1996 is shown below. CR Sales Operating expenses Khary's Capital Kwame's Capital Khary's Current Alc Kwame Loan Account - Kwame Drawings Khary Kwame Fixed Assets (nci) Debtors Creditors Bank balance DR $ $ 540 000 350 000 40 000 25 000 2000 4000 16 000 60 000 42 000 160 XCO 20 000 15 000 6 000 $ 640 000 $ 640 000 You are required to prepare: The Profit & Loss and Appropriation Accounts (b) The Current Accounts The Balance Sheet at December 31, 1996