Adeola, Bello and Chukwu are partners in ABC Enterprises, a trading firm based in Lagos. They have been in partnership for five years sharing profits and losses in the ratio 3:2:1 respectively. The following information relates to the year ended 31 December 2023: 1. Capital account balances at 1 January 2023: Adeola N900,000; Bello N600,000; Chukwu N300,000. 2. Current account balances at 1 January 2023: Adeola N120,000 (Cr); Bello N80,000 (Cr); Chukwu N40,000 (Dr). 3. The partnership agreement provides for: (i) Interest on capital at 8% per annum. (ii) Salaries: Adeola N150,000; Bello N120,000; Chukwu N90,000 per annum. (iii) Interest on drawings at 5% per annum. 4. Drawings during the year: Adeola N200,000; Bello N160,000; Chukwu N100,000. Assume all drawings were made on 1 January 2023 for the purpose of interest computation. 5. Net profit for the year before any appropriations was N1,080,000. 6. There were no changes to capital accounts during the year. Required: (a) Prepare the Profit and Loss Appropriation Account for the year ended 31 December 2023. (10 marks) (b) Prepare the Current Accounts of each partner for the year ended 31 December 2023 in columnar format. (8 marks) (c) State TWO advantages and TWO disadvantages of a partnership business structure under the Partnership Law of Nigeria. (7 marks) Total: 25 marks