TB for preparing/producing financial statements of Partnership firm: R&R Partnership Firm Trial Balance for the year ending 31 December 2021 Dr Cr OMR OMR Capital - Asif 237500 Capital - Badar 117500 Stock 147500 Machinery (cost) 27500 Machinery (accumulated depreciation ) 9500 Purchases 897500 Administration expenses 57500 Land 297500 Sales 1197500 General expenses 57500 Rent Trade receivables 75500 117500 Trade payables 57500 Commission received 3500 Commission paid 5500 Furniture (cost) 12500 Furniture (accumulated depreciation) 500 Cash 12500 Current account - Asif 57500 Current account - Badar 27500 1708500 1708500 Total Year-end Adjustments: 1. Closing stock is valued at OMR 175000 2. Salaries of the Partner: (a) Asif: OMR 27000 (b) Badar: OMR 20000 3. Profit should be shared equally between the partners 4. Interest allowed on capital is 5% per annum 5. The current account opening balance as on 1-1-2021 was: (a) Asif: OMR 63500 less drawings of OMR 6000 (b) Badar: OMR 31500 less drawings of OMR 4000 PREPARE INCOME STATEMENT AND BALANCE SHEET