Angelos and Giorgos are in partnership sharing profits and losses in the ratio $3$:$2.$ Giorgos is

entitled to a salary of $$9,000$ and interest on capital is paid at a rate of $8\%$ per annum. The

partners$$ capital balances are:

Angelos $$75,000$

Giorgos $$60,000$

The partnership statement of profit or loss for the year shows a profit of $$58,500.$

Required:

a$.$ Calculate how much of the total profit is Angelos and Giorgos entitled to $(10$ marks$)$

b$.$ Explain which components should be included in a general partnership agreement to

constitute such a partnership as clear and specific with regards to partners$$ rights and

obligations $(15$ marks$).$