Irene and Leslie operate a beauty salon as partners who share profits and losses equally. The success of their business has exceeded their expectations; the salon is operating quite profitably. Leslie is anxious to maximize profits and schedules appointments from 8 a.m. to 6 p.m. daily, even sacrificing some lunch hours to accommodate regular customers. Irene schedules her appointments from 9 a.m. to 5 p.m. and takes long lunch hours. Irene regularly makes significantly larger withdrawals of cash than Leslie does, but, she says, "Leslie, you needn't worry, I never make a withdrawal without you knowing about it, so it is properly recorded in my drawing account and charged against my capital at the end of the year." Irene's withdrawals to date are double Leslie's. - Instructions: (a) Who are the stakeholders in this situation? (b) Identify the problems with Irene's actions and discuss the ethical considerations involved. (c) How might the partnership agreement be revised to accommodate the differences in Irene's and Leslie's work and withdrawal habits