Fluctuating Capital Balance Dimitris and Elini started a partnership on 1 July 2021. At 30 June 2022 the following information is available for the partnership: Initial capital Balance: Dimitris - $25,000, Eleni - $33,000 Profit for the year ended 30 June 2022: $150,000 Eleni made a drawing of $10,000 during the year Dimitris and Eleni share profit on a fixed ratio of 3:2 The partnership uses the fluctuating capital balance method to account for capital. Step 1: close the Profit or Loss Summary to the Profit Distribution account. Profit or Loss Summary was introduced in Workshop 5 and illustrated for a sole trader. Up to the point of preparing the Profit or Loss Summary, the accounting for a sole trader and a partnership is the same. There is no need for a Profit distribution account for a sole trader. Step 2: close the individual partner's drawing account to the individual partner's capital account. Step 3: close the profit distribution account and allocate the profit or loss to capital of each individual partner