Kimberley, Kerry and Kevin, partners trading as Triple K Traders have a partnership deed which includes the following provisions.

1. Salaries are to be allowed: Kimberley, \($54000;\) Kerry, \($46000;\) Kevin, \($38000.

2.\) Kerry is to receive a bonus of 15% of the profits after allowing for partners’ salaries and interest.

3. Interest is to be allowed on advances by partners at 8% p.a.

4. Interest on drawings to be charged at 10% p.a.

5. Residual profits are to be divided: Kimberley, 3/8; Kerry, 3/8; Kevin, 1/4.

Account balances at 30 June 2026 before any adjustment in respect of provisions (1) to (5) include the following.

Required

(a) Prepare a schedule showing the distribution of final profit to each partner

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Capital: Kimberley Kerry Kevin $247 600 123 800 309 600 Retained earnings: Kimberley 49 500 Kerry 48 300 Kevin Advances: Kerry (on 1 July 2025) 78 300 112 000 Kevin (on 1 July 2025) 62 000 Drawings: Kimberly (on 1 January 2026) 19 500 Kerry (on 1 October 2025) 12 200 Kevin (on 1 March 2026) 9 150 Profit or loss summary (profit for the year ended 30 June 2026) 280 000