Partnership transactions (15 marks) jad, Pedro and Rola established a partnership on January 1, 2019. Jad and Pedro invested cash of AED 300,000 and 800,000 respectively. Rola invested equipment that had a cost of 600,000 and book value of AED 450,000. The fair value of the equipment is AED 400,000 The partners agreed to share the profit and loss as follows: The net income for 2019 was AED 150,000. The wage per hour for each partner is AED 30. The working hours were 1,800; 2.000 and 2.200 hours for Jad, Pedro and Rola respectively. The annual interest is 15% on the beginning capital balance. The Partnership Article specified that the maximum drawing for each partner should not exceed AED 6,000 per month. Each partner withdrew AED 6,000 per month throughout 2019. -Profits and losses are allocated 50% jad, 25% Pedro and 254 Rola. Required: a. Determine the amount of net income allocated to each partner for 2019. (7.5 marks) Jad Pedro Rola (75 marks) b. Determine the balance in all capital accounts at the end of 2019