Shine and Emma are partners dealing in cosmetics and other assorted goods. They share profit and losses in ratio 3:2. The trial balance below was extracted from the books of the partners as at 31 December, 2012 DR CR Goodwill 400,000 Bank overdraft 100,000 Sales 2,500,000 Cost of Sales 1,200,000 Debtors and Creditors 400,000 300,000 Sundry expenses 450,000 Stocks (31/12/12) 150,000 Loan from Sun at 15% per annum 200,000 Freehold property 900,000 Motor vehicle 600,000 Fixture and fittings 400,000 Provision for depreciation: Motor vehicles 140,000 Fixtures and fittings 240,000 Net profit (31/12/11) 200,000 Drawings: Shine 70,000 Emma 60,000 Capital Account: Shine 500,000 Emma 300.000 Emma 300,000 Current Account: Shine 120,000 Emma 30.000 4.630.000 4.630.000 The following information is relevant: . Interest on loan from Shine had neither been paid nor provided for. . Motor Vehicles and Fixtures and fittings are to be depreciated at the rate of the 10% and 20% percent per annum respectively on the reducing balance methods. ii. Sundry expenses outstanding at 31/12/12 amounted to GHC 50,000 Capital attracts interest of 10% per annum. Emma is to be paid a monthly salary of GHc 3,000. No interest is allowed or charged on current accounts or on drawings or on drawings. You are required to prepare: Income Statement ( 5 Marks) b. Profit and Loss Appropriation Account (5 marks) Partners current account (5marks) Statement of Financial Position as at 31/12/2012 (Smarks)