Fay and Frank are in partnership sharing profits and losses in the ratio 3:2. The following is their trial balance as at 30 September 2013. Cr Dr $ 160.000 8.200 4,200 61,400 26,590 6,130 62,740 363,111 Buildings (cost $210,000) Fixtures at cost Provision for depreciation: Fixtures Accounts receivable Accounts payable Cash at bank Inventory at 30 September 2012 Sales Purchases Carriage outwards Discounts allowed Loan interest: P. Prince Office expenses Salaries and wages Bad debts Allowance for doubtful debts Loan for P. Prince Capitals: Fay Frank Current accounts: Fay Frank Drawings: Fay Frank 210,000 3,410 620 3.900 4.760 57,809 1,632 1,400 65,000 100,000 75,000 4,100 1.200 31,800 28.200 640,601 640,601 Required: Prepare an income statement and profit and loss appropriation account for the year ending 30 September 2013. a) Inventory, 30 September 2013. 574.210. b) Expenses to be accrued: Office Expenses $215; Wages $720. c) Depreciate fixtures 15 per cent on reducing balance basis, buildings $5,000 d) Reduce provision for doubtful debts to S1,250. e) Partnership salary: $30,000 to Fay. Not yet entered. 1) Interest on drawings: Fay $900; Frank S600. g) Interest on capital account balances at 5 per cent