Two partners, Peter Tom and Sheila Thumb, have the following details of their accounts for the year ended 31 December 2001.

Net profit before appropriation £100,000 Capital accounts: Tom 8,000 Profit sharing ratio: 3 Tom, 1 Thumb Thumb 6,000 Salaries: Tom £10,000, Thumb £30,000 Current accounts: Tom 3,000 cr Drawings: Tom £25,000, Thumb £30,000 Thumb 1;000. dr Required:

Prepare the relevant trading, profit and loss and appropriation account, and balance sheet extracts. L01