Ralph and Doren are partners in The Mariposa. The firm has provided the following information as at December $31,2020$

DETAILS Dr Cr

Motor Vehicle at cost $440,000$

Prov for depreciation on motor vehicle $44,000$

Utilities $35,000$

Discounts $8,00012,000$

Commission received $120,000$

Sales $785,000$

Wages and Salaries $70,000$

Carriage Outwards $3,500$

Office expenses $25,600$

Provision for bad debts $5,400$

Building Repairs $40,000$

Loan interest paid $42,000$

Rent received $70,000$

Carriage inwards $4,500$

Purchases $391,000$

Opening Stock $85,000$

Bank $146,500$

Creditors $55,200$

Debtors $60,000$

Fixtures at cost $350,000$

Pro for depreciation on fixtures $70,000$

Building at cost $900,000$

$10\%$ Loan $600,000$

Capital

Ralph $400,000$

Doren $200,000$

Current Account

Ralph $30,500$

Doren $20,000$

Drawings

Ralph $30,000$

Doren $20,000$

Return Outwards $7,000$

$2,535,1002,535,100$

End notes

a$.$ Closing Stock is valued at $$130,000$

b$.$ Wages and salaries is prepaid by $$20,000$

c$.$ Commission is owing by $$30,000$

d$.$ The rent received is prepaid by $$20,000$

e$.$ The provision of bad debts is to be adjusted to $5\%$ of debtors

f$.$ Provide for depreciation as follows : Motor vehicle $5\%$ on the Straight Line; and Fixtures and Fittings $5\%$ on the Reducing Balance method

g$.$ The partnership agreement allowed for the following

i$.$ Interest is to be charged on drawings at $5\%$ p$.$a$.$

ii$.$ Interest is to be paid on capital at $5\%$ p$.$a$.$

iii. Doren is to be paid a salary of $$40,300$ p$.$a$.$

iv$.$ Profit or loss is to be shared in the same ratio as the capital

Required : Prepare the following

a$.$ The Statement of Profit and Loss and Appropriation Account $(30$ marks$)$

b$.$ The Current Account $(11$ marks$)$

c$.$ The Statement of Financial Position $(19$ marks $)$