Skye Ivey and Ruby Red are in partnership. At 1st July 2020 the balances in their Owner's Equity accounts were as follows: Ivey Capital $72 000 Ivey Retained Earnings $20 000 Red Capital $52 000 Red Retained Earnings $18 000 Their partnership agreement states: 1. Ivey is to receive a salary of $45 000 and Red a salary of $35 000 2. Each partner is to receive interest on their capital of 2% 3. Partners are to pay 5% interest on any drawings amounts over $5 000. Additional Information: 1. The partnership made a profit of 146 000 for the year ended 30th June, 2021. 2. Ivey withdrew $10000 cash on 1st January, 2021 and Red withdrew $11000 on 1st October 2020. Required: a. Prepare the Profit Distribution Statement to allocate the profit for the year ending 30th June, 2021. Use a table as illustrated below: Profit and Loss Distribution Statement for year ended 30th June, 2021 Ivey Red Total b. Prepare the Retained Earnings Ledger Accounts for Ivey and Red. C. Prepare an extract from the Statement of Financial Position to indicate the Equity for both Ivey and Red