Problem 3. [05 Marks] Rathore Furnishings, Inc., has three partners -Ali, Bilal, and Zafar. At the beginning of the current year their capital balances were: Ali, Rs.180,000; Bilal, Rs.140,000; and Zafar, Rs.80,000. The partnership agreement provides that partners shall receive salary allowances as follows: Ali, Rs.10,000; Bilal, Rs.50,000; and Zafar, Rs.28,000. The partners shall also be allowed 12% interest annually on their capital balances. Residual profit or loss is to be divided: Ali, one-sixth; Bilal, one-half; and Zafar, one-third. Instructions Prepare separate schedules showing how income will be divided among the three partners in each of the following cases. a. Income of Rs.526,000. b. Loss of Rs.32.000. The figure given in each case is the annual partnership net income or loss to be allocated among the partners. Round calculations to the nearest rupee