Ritesh and Mitesh started a business on 1st April, 2018 and contributed the capital of `2,00,000 and `1,50,000 respectively. On 1st July, 2018, Ritesh gave a loan of `40,000 and mitesh introduced a fresh capital of `60,000. Profit for the year ended 31st March, 2019 was `75,800. There is no partnership deed. Both Ritesh and Mitesh also asked for a monthly salary of `2,000 as they spent additional over time on regular basis.
Show the distribution of profit and prepare profit and loss appropriation account.
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