Draw up a profit and loss appropriation account for the year ended 31 March 20X8 and balance sheet extracts at that date, from the following:

(i) Net profits £111,100.

(ii) Interest to be charged on capitals: Blair £3,000; Short £2,000; Steel £1,500.

(iii) Interest to be charged on drawings: Blair £400; Short £300; Steel £200.

(iv) Salaries to be credited: Short £20,000; Steel £25,000.

(v) Profits to be shared: Blair 70%; Short 20%; Steel 10%.

(vi) Current accounts: balances b/d Blair £18,600; Short 3 £9,460; Steel £8,200.

(vii) Capital accounts: balances b/d Blair £100,000; Short £50,000; Howe £25,000.

(viii) Drawings: Blair £39,000; Short £27,100; Steel £16,800.