Delta Enterprises has a trading profit for the year ended 31 December 2023, before dealing with the following items, of $85,000. You are to complete the profit and loss account and appropriation account.

Item	Details
a	The standard rate of income tax is 27%.
b	Delta Enterprises had $70,000 of 10% debentures. It sent cheques for debenture interest for the year less income tax, on 31 December 2023.
c	Delta Enterprises had bought $20,000 of 12% debentures in another company. It received a year's interest, less income tax, on 30 December 2023.
d	No cheque has been paid to the Inland Revenue for income tax.
e	Delta Enterprises had bought 30,000 ordinary shares of $1 each in Epsilon Ltd. Epsilon Ltd paid a dividend to Delta Enterprises of 20% on 30 November 2023. Epsilon Ltd is a 'related company'.
f	Delta Enterprises had a liability for corporation tax, based on profits for 2023, of $40,000.
g	Delta Enterprises proposed a dividend of 30% on its 100,000 ordinary shares of $1 each, out of the profits for 2023.
h	Transfer $8,000 to general reserve.
i	Unappropriated profits brought forward from last year amounted to $14,000.

Requirement: Complete the profit and loss account and appropriation account for Delta Enterprises and prepare a reconciliation of retained earnings.