• $3,000 was set aside to pay for any future veterinary care of the two ferrets "Butch" and"Cassidy" which had belonged to David's father, now deceased.• $2,000 was paid for Peter's university fees, books and a new lap-top computer.• $1,500 was set aside to help pay for Oliver's day care when he reaches 3 years of age.• $500 was used to pay James' speeding fines.Required:Showing all workings:1. List any amounts for which there is no present entitlement as at 30 June 2015;2. Determine the balance retained by the trustee as at 30 June 2015; and3. Calculate the tax payable by the trustee for the year ended 30 June 2015.David and Ruth's business opened on 1 July 2014. The accounting profits and losses are to beshared equally after adjusting for special partnership items. The following transactions wererecorded in the partnership's cashbook in the year ended 30 June 2015.1. Calculate the net income of the partnership for the year ended 30 June 2015; and2. Distribute the net income of the partnership for the year ended 30 June 2015.