Nevett and Torney share profits in a proportion of 60:40. Nevett is entitled to a salary allo p.a., and Torney is entitled to $50 000 p.a. Capitals are fixed at Nevett $72 000 and Torney $48 000. Interest is to be calculated on p advances, and drawings in excess of salary at 8% p.a. The trial balance after the determination of profit for the 6-month period is shown bela Nevett had withdrawn $12 000 cash on 1 April; Torney cash drawings included $24 000 000 on 1 May. Required: Prepare the Profit Distribution account for 6 months ended 30 June 2022. Prepare the Retained Earnings accounts for each partner at 30 June 2022. Prepare a balance sheet as at 30 June 2022. N n Nevett, Capital Torney, Capital Nevett, Advance (Balance at 1/1/2022) Nevett Retained earnings NEVETT AND TORNEY Trial Balance as at 30 June 2022 Debit $22.000