QUESTIONS Equity for the year and 220 Martial INFORMATION The information given below was extracted from the accounting conda of Preten Traders, a partnership Business with Presley and Tony as partners Entract from the trial balance of Preston Tradera on 25 February 2011 Dobit Credit R - Capital Presley 600 000 Cape Tony 400 000 Current alc: Presley (01 March 2020) 40 000 Current al: Tony (01 March 2020 50 000 Drawings Presley 340 000 Drawings: Tony 360 000 The following must be taken into account: (a) b) The Statement of Comprehensive Income lected a net profit of R900 000 an 28 February 2021 The partners are enided to interest at 12% p.a. on the capital balances. Note Presley decreased his capital by R200 000 on 01 June 2020 whilst Tony increased his capital by R200 000 on 01 September 2020. These capital changes have been recorded The partners are entitled to the following monthly salaries for each of the two si month periods c) 01 March 2020 to 31 August 2020 01 September 2020 to 28 February 2021 Presley R16 000 R17 000 Tony R15 000 R16 000 id Tony is entitled to a bonus equal to 5% of the net profit before any of the above appropriations have been taken a into account le) The remaining profitfass must be shared between Presley and Tony in the ratio 32 respectively