Answer All Questions Mr. Kenny and Ms. Them have a partnership business. They operate an online fashion clothing business. The business commenced on 1st January 2017 and the financial year-end is 31st December Fashion Enterprise Profit and Loss Account for the year ended 31 December 2020 RM RM Sales 550.000 Less: COGS 100,000 450,000 Less: Operation Expenses (50,000) (Include Depreciation RM10,000) Partner's Salaries Kenny 60,000 Them 50.000 (110,000) Partner's Interest Kenny 13,000 Them 13,000 (26,000) Partner's private expenses Them 4,000 (4,000) Net Profit 260,000 Additional information They have agreed to share their income and capital allowance equally. Capital allowance of RM12,000 for the year of assessment 2020 Required: (a) Compute the partners' divisible and statutory income for Mr. Kenny and Ms. Them for the year of assessment 2020. (8 marks) (b) (1) Indicate the THREE (3) contents of no partnership agreement. (3 marks) (11) Compare any TWO (2) features for partnership and limited liability partnership (LLP). (4 marks) (c)For the year 2019, Fashion Enterprise makes a supernormal profit and decided to share their 10% partnership profit with the operation manager Ms. Geeny as part of her rewards. Explain to Ms. Geeny the difference between contact for service vs contract of service, and justify whether Ms. Geeny can be considered as their partner. (5 marks) (d) ABC Sdn Bhd and XYZ Sdn Bhd, two different entities, agreed to join a construction project for the Malaysian state government. All the income and expenses will be shown in the consortium's accounts as below: ABC Sdn Bhd: 45% XYZ Sdn Bhd: 55% Required: Explain if a partnership exists between the parties