QUESTION 1 Kwadwo Asiedu and his son Kwame Asiedu together with Kwesi Andoh were in partnership as solicitors practicing in the name of Asiedu and Andoh. Kofi Oduro, the managing clerk was admitted as a partner on 1st April 2021. The sharing of profit and losses in the new partnership were to be as follows: Kwadwo Asiedu five-twelfths, Kwesi Andoh four-twelfths, Kwame Asiedu two-twelfths, and Kofi Oduro onetwelfth. Kwame Asiedu was also to receive GHS 700 per annum by way of salary. Prior to becoming a partner, Kofi Oduro had received a salary of GHS1, 660 per annum together with a commission of 2 per cent of the net profit before a charge was made for any partner's salary but after charging his own salary and commission. For the new partnership's first year it was agreed that any excess of his share of profit, over and above what his remuneration would have been if he had continued as managing clerk plus an additional amount of GHS440, should he charged against Kwadwo Asiedu share. After perusing the draft account for the year ended 31st March, 2022, as drawn up by their accountant, the partners agreed: 1. to make provision for bonuses to the staff in the sum of GHS1,400, 2. that the following adjustments should be made - a) that Kwame Asiedu should be credited with GHS 400 of his father's share of the profit; b) That Yaw Andoh, son of Kwesi Andoh employed by the partnership should be given an additional bonus of GHS250, the same to be charged against the father's share of profit. Before charging Kwame Asiedu's salary and prior to making the above mention adjustments, the profit for the year was GHS 35,700 . Prepare a statement of division of profit for the year ended 31st March 2022. (20 marks)