Mendez and Marshall are in Partnership operating a manufacturing business. They share profit in the ratio 3:2. The trial balance at December 31, 2023 was as follows:

Trial Balance as at December 31, 2023	DR	CR
	$	$
Factory Equipment at cost	26,000
Office-Motor Vehicles at cost	36,800
Provision for depreciation:
Office-Equipment		7,800
Office-Motor Vehicles		14,720
Stock of Finish Goods at Dec 31, 2022	99,880
Debtors and Creditors	83,840	65,100
Cash at Bank	19272
Work in Progress at Dec 31, 2022	25,000
Direct Expenses	18,900
Direct Wages	31,500
Electricity	15,000
Insurance	5,000
Purchase of Raw Materials	120,000
Factory Maintenance	12,567
Provision for unrealized profit		15,447
Raw Material at Dec 31,2022	30,000
Sales		361,480
Salaries of Office Staff	45,668
Office Expenses	3,480
Current Accounts at Dec 31, 2022:
Mendez		5,516
Marshall		4,844
Capital Accounts:
Mendez		86,000
Marshall		50,000
Drawings:
Mendez	16,000
Marshall	22,000
Total	610,907	610,907

Additional Information

1. Stock of finish goods at Dec 31, 2023 was valued at $149,500
2. Stock of raw material at Dec 31, 2023 was valued at $28,500
3. Work-in-progress at Dec 31, 2023 was valued at $22,400
4. Factory profit is 20% on the cost of production.
5. Office expenses owing $440
6. Electricity prepaid is $3000
7. The factory is responsible for 70% of the electricity, while the office is responsible for 60% of the insurance
8. Provision for Depreciation: Motor Vehicle 20% of cost, Factory Equipment 10% on the reducing balance method.
9. Interest is to be charged on drawings is 5% per annum.
10. Interest is allowed on capital accounts at the rate of 6% per annum.
11. Marshall is allowed a salary of $15,000 per annum.

Required:

A. Prepare the partners manufacturing, trading, and profit and loss account for the year ended December 31, 2023.

B. Prepare the partners appropriation account for the year ended December 31, 2023

C. Prepare the partners current accounts for the year ended December 31, 2023.

D. Prepare the partners capital accounts for the year ended December 31, 2023.

E. Prepare the partners balance sheet for the year ended December 31, 2023

F. Calculate the following ratios and comment on the results:

• Gross profit percentage
• Net Profit percentage
• Debtor collection period