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The partnership agreement provides for Cindy and Ursula to share profits and losses equally. Cindy is entitled to a salary allowance of $68 000 p.a., and Ursula is entitled to $64 000 p.a. Capitals are fixed at Cindy $32 800 and Ursula $44 500. Interest is to be calculated on partners' capital, advances, and drawings at 5% p.a. The trial balance after the determination of profit for the 6-month period is shown below. Cindy had withdrawn $8 000 cash on 1 April; Ursula's cash drawings included $18 000 on 1 March and $10 000 on 1 January. Required (a) Prepare the Profit Distribution account for 6 months ended 30 June 2020. (b) Prepare the Retained Earnings accounts for each partner at 30 June 2020. (C) Prepare a classified balance sheet as at 30 June 2020. CUE DINING Trial Balance As at 30 June 2020 Debit Credit $ 32 800 44 200 35 000 Cindy, Capital Ursula, Capital Cindy, Advance Cindy, Retained earnings (net of cash drawings) Ursula, Retained earnings (net of cash drawings) Cindy, Salary (paid in cash) Ursula, Salary (paid in cash) $ 8 600 12 200 34 000 32 000 19 048 8 200 98 750 Cash at bank 26 400 Prepaid rent Plant and equipment Accumulated depreciation - plant and equipment Inventory Accounts payable Profit or loss summary 15 652 18 250 71 800 $228 450 $228 450 (a) Profit Distribution (6) Cindy, Retained Earnings Ursula, Retained Earnings ) CUE DINING Balance Sheet as at 30 June 2020