12.2 Pickwick, Snodgrass and Tupman are in partnership, making up accounts to 31 March annually. Each partner receives 6% interest on fixed capital, Pickwick and Tupman each receive an annual salary of £8,000 and remaining profits or losses are divided equally.

Fixed capitals are Pickwick £12,000, Snodgrass £20,000 and Tupman £10,000. The adjusted trading profit for the year to 31 March 2010 is £14,500. Show how this profit is allocated between the partners.