Briefly describe the rules and laws governing partnership business in the Sultanate of Oman. A, B and C were partners in a firm sharing profits and losses according to their Capital. On 15 April 2020 their Balance Sheet was as follows: Balance Sheet of A, B and C (as on 1st April 2020) OMR OMR Cash 28,000 Debtors 40,000 Less: Provision (2,000) 38,000 Stock 36,000 Machinery 100,000 Buildings 200,000 402,000 Creditors 42,000 General Reserve 40,000 Capitals: A 160,000 B 80,000 C 80,000 320,000 402.000 On the above date B retired and following was agreed: (i) Buildings to be appreciated by 10_% (ii) Provision for bad debts to be increased to 8 _% on debtors (iii) Machinery to be depreciated by 15 (iv) Goodwill of the firm valued at OMR 20000 (v) 5 % of the amount payable to B was paid in Cash and balance was transferred to her Loan Account Required: (a) You are required to show all the ledger accounts necessary to record the revaluation. (b) Draw up a balance sheet as at 1 April 2020