INFINITY BOATWORKS is a fiberglass boat builder is owned and managed by Merry and Sunny both general partners. Following are the adjusted Trial balance as at December 31, 2021: Requirements: ? Make a Income Statements.

\fPnng a Statimwy 131,337.74 Rm paid 54,334.01 ' Telephone & 111mm 117,360.35 1mm 139,937.93 Cash at bank 2.5531305 amount minuss 7,030,15437 Want in progress, at not! 7,338,092.52 Fromm 171,715.54 Pllniam'l squpmsm 4,535,m32 Amount mans 9,134,201m mm Expenses 31,4682? m, Capital 1333359032 uni-1y, Drawing 3,313,337.73 slimy, Capital 10,354,45035 Sunny, Drawing 2313,6126!) Tom 92,795,357}; n,7ss,as7.7s 18. How much isthe net prot assuming the tax rate is 30%? 19. How much is credited to Merry's capital assumingthe net profit after tax were to distribute equally? 20. How much isthe share of Sunny on net profit after tax if Merry is to receive 10% Interest on capital and both partners received salary of 150,000. 21. How much isthe bonus ofSunny on net prot aftertax, if Merry isto receive 10% Interest on capital and both partners received salary of 150,000. Assuming bonus is 20%. 22. How much isthe net assets afterthe distribution in number 21. 23. Assuming Merry is to receive 15% bonus on income before tax but after salary of 100,000 each. Partners also agree to 10% interest for both and residual equally. How much is Sunny total share on net profit after tax. 24. Based on number 23, except it is agree thatSunnywill receive a minimum of 200,000 on net profit after tax. How much is the total credit on Merry's drawing? 25. Assuming Merry is to receive 15% bonus before tax and salary of 100,000 each but after 10% interest for both. The residualto be distributed based on capital. How much is Sunny total share on net profit aftertax