QUESTION 2: PARTNERSHIP AND NOTES (40 MARKS: 32 MINUTES) MACADAM STORES The information below was taken from the books of MacAdam Stores with partners A. Mac and C. Adam. Their financial year ends annually on 28 February. REQUIRED: 2.1 Calculate the interest on capital for Mac and Adam. (10 2.2 Calculate the drawings for the year for Mac. 2.3 Prepare the following notes as they would appear in the Balance Sheet as at 28 February 2022: 2.3.1 Capital Note 2.3.2 Current Account Note (19 INFORMATION: A. The following balances appeared, amongst others, in the books of MacAdam Stores on 28 February 2022: B. The net profit as calculated in the Income Statement for the year ended 28 February 2022 amounts to R311 300. C. The partnership agreement stipulates the following: - Partners will receive the following salaries: A. Mac - R6 700 per month C. Adam - R102 000 per annum