From the information given below you are required to prepare for Streamline PLC:

(a) a profit and loss appropriation account for the year ended 31 December 20X9;

(b) a balance sheet as at 31 December 20X9.

Streamline PLC has an authorised share capital of £520,000, divided into 500,000 £1 ordinary shares and 20,000 5% preference shares of £1 each. Of these shares, 300,000 ordinary shares and all of the 5% preference shares have been issued and are fully paid.

In addition to the above information, the following balances remained in the accounts after the profit and loss account had been prepared for the year ended 31 December 20X9.

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Dr J4 Cr Plant and machinery, at cost Provision for depreciation on plant and machinery Premises at cost 140,000 50,000 250,000 Profit and loss account balance (1 January 20X9) 34,000 Net trading profit for year ended 31 December 20X9 15,000 Wages owing 3,900 Bank balance 15,280 Stock (31 December 20X9) 16,540 Trade debtors and creditors 12,080 3,000 Advertising prepaid 2,000 General reserve 10,000 The directors have proposed the payment of the preference share dividend, and an ordinary share dividend of 6%. They also recommend a transfer of 20,000 to the general reserve.