Sonu, Monu, Parth, and Mala are partners sharing profits and losses in the ratio of 4 : 3 : 2 : 1. Their capitals as at 1st April, 2022 were ₹ 1,80,000; ₹ 1,50,000; ₹ 90,000 and ₹ 60,000 respectively

Sonu, Monu, Parth, and Mala are partners sharing profits and losses in the ratio of 4 : 3 : 2 : 1. Their capitals as at 1st April, 2022 were ₹ 1,80,000; ₹ 1,50,000; ₹ 90,000 and ₹ 60,000 respectively.

Mala’s share of profits excluding interest on capital has been guaranteed by the firm to be not less than ₹ 1,50,000. Parth’s share of profits including interest on capital and salary guaranteed by Sonu is not less than ₹ 1,56,000.

Profit for the year ended 31st March 2023 was ₹ 5,40,000 before interest on capital @ 10% and salary to Parth @ ₹ 6,000 per month.

Prepare a Profit and Loss Appropriation Account and distribute the profit.