Question 3 [30] Ms Peach, Mr Orange and Miss Lemon share profits in the ratio 5:3:1 for their partnership, Online Traders. Ms Peach decided to retire and has withdrawn from the partnership. The partnership's financial position on 30 April 2021, before her retirement, is as follows: Online Traders Statement of financial position as at 30 April 2021 R ASSETS Non-current assets Land and buildings 950 000 Equipment 46 000 Vehicles 90 000 Total non-current assets 1 086 000 Current assets Inventories 35 900 Trade and other receivables 19 800 Cash and cash equivalents 7 650 Total current assets 63 350 Total assets 1 149 350 EQUITY AND LIABILITIES Equity Capital: Mr Orange 375 000 Capital: Ms Peach 625 000 Capital: Miss Lemon 125 000 Current: Mr Orange (7 500) Current: Ms Peach (12 500) Current: Miss Lemon 2 500 Total equity 1 107 500 Current liabilities Trade and other payables 41 850 Total current liabilities 41 850 Total equity and liabilities 1 149 350 Page 6 of Assignment . As a result of Ms Peach's retirement, the partners decided on the following: Goodwill will be valued at R108 000. All non-current assets are valued at 9% higher than their carrying amounts. All current asset and liabilities are considered to be valued their carrying amounts. Any amounts owing to Ms Peach will be funded with a loan from the bank. Mr Orange and Miss Lemon will share in future profits and losses in the ratio 2:1. Goodwill will not be taken into account in the financials. . Required: 3.1 Show the effect of the above decisions on the capital accounts of the partners. Show all calculations. (24) 3.2 Prepare the statement of financial position immediately after the withdrawal of Ms Peach. (6)