MarcoPolo Traders The following balances appeared in the books of MarcoPolo Traders on 1 January 2019: Account name Amount Capital: Marco 8 000 Capital: Polo 6 000 Current: Marco 2 000 (debit) Current: Polo 2 500 Drawings: Marco 3 000 Drawings: Polo 1 000 Salaries 6 000 Net profit before adjustments 50 000 COAGB1-B44 Supplementary/Deferred Assessment Paper Block 4 2021 | V1.0 Page 6 of 9 The partnership agreement provided for the following: Interest on drawings: o Marco: R150, Polo R100. Interest on capital: o 5% per annum. o Marco has made an additional capital contribution of R1 000 in the middle of the financial year. The contribution has been recorded correctly. Interest on current accounts: o (On opening balances) 10% per annum. Each partner is entitled to a salary of R1 000 per month. Marco receives a bonus of R600 per annum. This bonus was erroneously entered in the salaries account. The partners will share profits and losses in the ratio 4:3. Source: Klopper, J. 2019. Required 2.1 Calculate the profit share for each partner. (12 Marks) 2.2 Prepare the Statement of Changes in Equity of MarcoPolo Traders for the year ended 31 December 2019.