Ocean Factory is a manufacturer of rubber products owned by two partners namely Firdaus and Shahir. Agreements between partners regarding the distribution of net profit wwwwww wwwwwww or loss are asfollows 1. Annual allowance of RM 72,000 and RM48,000 to Firdaus and Shahir, respectively. 2. All partners receive an interest allowance of 10% on beginning capital balances. 3. The remainder to be divided to Firdaus and Shahir at 3:2 B The balances of Ocean Factory accounts as of 31 December 2021 are asfollows: Accounts Finished Goods Inventory, January 1 RM 70,000 Finished Goods Inventory, December 31 84,000 Work in Process Inventory, January 1 50,000 Work in Process Inventory, December 31 26,000 Raw Materials Inventory, January 1 26,000 Raw Materials Inventory, December 31 36,000 Factory Supervisor Salaries 28,000 Office Salaries Expense 28,000 Depreciation Expense Office Building Tax Expense 15,000 36,000 Raw Materials Purchases 194,000 Utilities Expense 20,000 Sales 1,450,000 Direct Labour 150,000 Sales Returns and Allowances 10,000 Indirect Labour 44,000 Capital Firdaus 180,000 Shahir 140,000 Firdaus 50,000 Shahir 26,000 Current account Additional information: 1. 2. Depreciation expense applies tofactory and office at a ratio of 8:2. Factory utility expense is 70%, and the remaining amounts should be charged to the office. Required: For Ocean Factory, for the year ended December 31, 2021; prepare a Cost of Goods Manufactured Schedule. a) b) prepare an Income Statement. c) prepare the Partners Current Account. d) e) TWO show the owners' equity section in the Statement of Financial Position. if Ocean Factory is a merchandising business, state TWO (2) items presented, and (2) items not presented in its income statement