Draft a profit and loss appropriation account and balance sheet extracts for Adams, Mitchell, and Walker for the year ended 31 December 22X8 based on the following information:

• Net profits: £48,700
• Interest to be charged on capitals: Adams £3,200; Mitchell £2,200; Walker £1,900
• Interest to be charged on drawings: Adams £320; Mitchell £270; Walker £240
• Salaries to be credited: Mitchell £3,900; Walker £4,400
• Profits to be shared: Adams 55%; Mitchell 30%; Walker 15%
• Current accounts: Adams £2,700; Mitchell £1,500; Walker £1,300
• Capital accounts: Adams £65,000; Mitchell £30,000; Walker £28,000
• Drawings: Adams £14,500; Mitchell £9,600; Walker £10,300