Kerry, Damari, and Peter are operating a Storage Company in partnership located in Downtown Kingston sharing profits 60%, 20% and 20% respectively. In the year of assessment 2023, the profit of the Partnership was $5 million after charging:

Depreciation 300,000

Partners drawings 800,000

GCT Interest penalties 150,000

Additional Information not included in income statement:

1. Interest on capital Kerry $500,000, Damari $200,000 and Peter $200,000. Interest on capital was not included in the account profit calculation.
2. Capital allowances have been computed at $500,000.
3. Damari received professional fees for a consultancy gross of $350,000.
4. During 2018 Kerry, Damari and Peter paid estimated tax of $200,000, $100,000, and 50,000 respectively.

Prepare the partnership adjusted profit statement and annual returns for each partner for the year of assessment 2023.