The objective of preparing Income Statement of partnership is: O a. To show the interest on capital of each partner O b. To show drawings of partnership firm Oc. To show the net profit or loss of partnership firm O d. To show the capital of each partner The purpose of preparation of Profit and loss appropriation account is: O a. To know the balance of drawings of each partner O b. To know the balance of capital of each partner O c. To know the share of profit or loss of each partner O d. To know the balance of goodwill of each partner