The following information has been extracted from the books of Threaker and Waitley who have been in partnership for several years. Partners' Capital Account at 1 January 2012: Threaker Waitley $80 000 $100 000 Partners' Current Account at 1 January 2012: Threaker Waitley $4 800 Cr $7 300 Dr Partners' Drawings for the year ended 31 December 2012: Threaker $44 000 Waitley $36 000 Net profit for the year ended 31 December 2012 = $172 000. The partnership agreement between Threaker and Waitley provides for the following: (i) Partners are to receive interest at a rate of 10% per annum on