Fadeke, Femi, Kola, and Gbenga have been in partnership as medical practitioners for eight years. The statement of profit or loss for the year ended December 31, 2021, is as follows:

1. Capital allowances agreed with the revenue: N980,000
2. Profits are to be shared equally among the partners.
3. Fadeke and Femi are married with three and two children, respectively.
4. Fadeke has a life assurance policy of N960,000 on which she pays N96,000 annually as a premium.
5. Fadeke maintains her aged father who is over 68 years.

Required:

a. Compute the income of the partnership. (5 Marks)
b. Compute the income tax liability of each of the partners. (25 Marks)
(Total: 30 Marks)