QUESTION ! Abel and Benny are partner sharing profits and lesses in the ratio of 3:1. The statement of inancial position of the firm as at 31 December, 2017 is shown below Non-current Assets GHS GIIS Land and Building 700.000 Trucks 150.000 Furniture and Computers 460.000 1,310,000 Current Assets Inventory Trade Receivables Prepayments Bank 550.000 200.000 70.000 210.000 1.070.000 2,340,000 Current Liabilities I ride Pavables Brut 290,000 20,000 GIOCO 2.000.000 Finance hy: Capital Accounts Wrol Benny Lurrent Accounts bei Benny 800,000 700.000 300,000 230,000 2.000.000 Additional information: On January 2018 the partners agreed to admit Celia as a partne: into the firm in order to expand the sales outlets. At the time at adinission Cehia brought in a pickup valued GHS200,000 and a machinery worth GHS150,000 and also paid a premium lor het share of goodwill. He also contributed cash or GHS450,000 The three partners, Abel. Benny and Celia agreed to share profits and losses in the ratio of 2 respectively hil the following Assets at the firm are to be revalued as follows following the admission Land and Sunding GIIS 140 00 180.000 19000 545,000 inventory iv) For the purpose of the admission, internally generated goodwill prior to admission of Celia was valued at years purchase of the simple uverage and profits of the last four accounting vears to the date of admission The protes of the time for th: four years are is follows CHS Year ended 31/12/2013 10.000 Year ended 31/12/2014 17.000 Year ended 31/12/2015 18.000 Year ended 31/12/2016 15.000 w 4iso, it was agreed that all current account balances be transferred to capital accounts before the new agreement takes effect vor Goodwill is no: to be maintained in the books. Required: til Calculate the value of goodwill as t 19 January, 2019; (b) Prepare the Revaluation Account. (c) Prepare the Partners' Capital Accounts; and (4) Prepare the Statement of Financial Position as at January 2019. (15 marks)