55. Kabir, Zoravar and Parul are partners sharing profits in the ratio of 5 : 3 : 2. Their capitals as on 1st April, 2024 were: Kabir : ₹5,20,000, Zoravar: ₹3,20,000 and Parul: ₹2,00,000.

The Partnership Deed provided as follows:

(i) Kabir and Zoravar each will get salary of ₹24,000 pa.

(ii) Parul will get commission of 2% of Net Sales.

(iii) Interest on capital is to be allowed @ 5% pa.

(iv) Interest on Drawings is to be charged @ 5% pa.

(v) 10% of Divisible Profit is to be transferred to General Reserve

Net Sales for the year ended 31st March, 2025 were ₹50,00,000. Drawings by each of the partners during the year was ₹60,000. Net Profit for the year was ₹1,55,500.

Prepare Proft & Loss Appropriation Account for the year ended 31st March, 2025.