For the year ended 31 December 20Z8, prepare a profit and loss appropriation account for Murphy, Wood, and Diaz and balance sheet extracts:

• Net profits: £44,800
• Interest to be charged on capitals: Murphy £2,700; Wood £2,000; Diaz £1,500
• Interest to be charged on drawings: Murphy £280; Wood £240; Diaz £200
• Salaries to be credited: Wood £3,800; Diaz £4,300
• Profits to be shared: Murphy 50%; Wood 30%; Diaz 20%
• Current accounts: Murphy £2,500; Wood £1,500; Diaz £1,100
• Capital accounts: Murphy £58,000; Wood £27,000; Diaz £25,000
• Drawings: Murphy £12,800; Wood £8,900; Diaz £9,400