Draw up a profit and loss appropriation account for Cole, Knox and Lamb for the year ended 31 December 20X5, and a balance sheet extract at that date, from the following:

(i) Net profits £184,800.

(ii) Interest to be charged on capitals: Cole £3,600; Knox £2,700; Lamb £2,100.

(iii) Interest to be charged on drawings: Cole £1,200; Knox £960; Lamb £500.

(iv) Salaries to be credited: Knox £22,000; Lamb £28,000.

(v) Profits to be shared: Cole 55%; Knox 25%; Lamb 20%.

(vi) Current accounts: Cole £18,000; Knox £8,000; Lamb £6,000.

(vii) Capital accounts: Cole £60,000; Knox £45,000; Lamb £35,000.

(viii) Drawings: Cole £27,000; Knox £23,000; Lamb £17,000.