41.10A Scot and Joplin are in partnership. They share profits in the ratio: Scot 70 per cent; Joplin 30 per cent. The following trial balance was extracted as at 31 December 2017: Dr Cr Office equipment at cost 9,200 Motor vehicles at cost 21,400 Provision for depreciation at 31.12.2016: Motor vehicles 12,800 Office equipment 3,600 Inventory at 31 December 2016 38,410 Accounts receivable and accounts payable 41,940 32,216 Cash at bank 2,118 Cash in hand 317 Sales Purchases Salaries Office expenses Discounts allowed 180,400 136,680 27,400 2,130 312 Current accounts at 31.12.2016 Scot 7,382 Joplin Capital accounts: Scot 7,009 50,000 Joplin Drawings: Scot Joplin 20,000 17,500 16,000 313,407 313,407 Required: Draw up a set of financial statements for the year ending 31 December 2017 for the partnership. The following notes are applicable at 31 December 2017: (a) Inventory, 31 December 2017 41,312. (b) Office expenses owing 240. (c) Provide for depreciation: motor 25 per cent of cost, office equipment 20 per cent of cost. (d) Charge interest on capitals at 5 per cent. (e) Charge interest on drawings: Scot 300; Joplin 200.