3) From the following data given you are required to prepare profit and loss appropriation account Dr Cr 100,000 ordinary shares of S 10 each, fully paid 1,000,000 50,000 10%preference shares of $10 each, fully paid 500,000 General reserves 50.000 Interim ordinary dividend 50,000 Interim preference dividend 25,000 Retained Earning beg balance 100,000 Net profit 250,000 Additional information Director paid remaining preference dividend The director proposed a final dividend of$7 per ordinary share The director decided to transfer $30,000 to the general reserve