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The information given below was extracted from the accounting records of Albert Traders, a partnership business with Al and Bert as partners. REQUIRED Prepare the Statement of Changes in Equity for the year ended 28 February 2018 using the following format: STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 28 FEBRUARY 2018 INFORMATION The following must be taken into account: (a) The net profit for the year, according to the Profit and loss account, amounted to R500 000 . (b) The partners are entitled to interest at 15% per annum on their capital balances. On 01 September 2017Al increased his capital by R200 000 . The capital change has been recorded. (c) The partners are entitled to the following monthly salaries: AlBertR9000R10000 (d) Bert is entitled to a bonus equal to 10% of the net profit before taking any of the above appropriations into account. (e) The balance of the profit or loss must be shared equally between Al and Bert. The information given below was extracted from the accounting records of Albert Traders, a partnership business with Al and Bert as partners. REQUIRED Prepare the Statement of Changes in Equity for the year ended 28 February 2018 using the following format: STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 28 FEBRUARY 2018 INFORMATION The following must be taken into account: (a) The net profit for the year, according to the Profit and loss account, amounted to R500 000 . (b) The partners are entitled to interest at 15% per annum on their capital balances. On 01 September 2017Al increased his capital by R200 000 . The capital change has been recorded. (c) The partners are entitled to the following monthly salaries: AlBertR9000R10000 (d) Bert is entitled to a bonus equal to 10% of the net profit before taking any of the above appropriations into account. (e) The balance of the profit or loss must be shared equally between Al and Bert

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