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 are entitled to annual salaries of £40,000 and £30,000 respectively. Remaining profits or losses are divided equally. Fixed capitals are Pickwick £60,000, Snodgrass £100,000 and Tupman £50,000. The adjusted trading profit for the year to 31 March 2024 is £62,500. Show how this profit is allocated between the partners.