SAMPLE QUESTION 80/90 PARTNERSHIP PROFIT AND LOSS Income GA Sales 550,000 Interest 5,000 Dividend Fully Franked 10,000 Total Income 565,000 Cost of Goods Sold Opening Stock 20,000 Purchases 100,000 Closing Stock 50,000 Total Cost of Goods Sold 70.000 Gross Profit 495,000 Franking Credit : PRO