For the year ended 31 December 20Z4, draft a profit and loss appropriation account for Perez, Campbell, and Phillips and balance sheet extracts from the following details:

• Net profits: £42,300
• Interest to be charged on capitals: Perez £2,400; Campbell £1,800; Phillips £1,600
• Interest to be charged on drawings: Perez £260; Campbell £200; Phillips £170
• Salaries to be credited: Campbell £3,200; Phillips £3,900
• Profits to be shared: Perez 50%; Campbell 30%; Phillips 20%
• Current accounts: Perez £2,300; Campbell £1,100; Phillips £900
• Capital accounts: Perez £50,000; Campbell £27,000; Phillips £23,000
• Drawings: Perez £12,500; Campbell £8,400; Phillips £9,000