Given the following data, draft a profit and loss appropriation account for Davis, Martinez, and Taylor for the year ended 31 December 20Y1, and balance sheet extracts:

• Net profits: £38,400
• Interest to be charged on capitals: Davis £1,800; Martinez £1,400; Taylor £1,200
• Interest to be charged on drawings: Davis £220; Martinez £190; Taylor £160
• Salaries to be credited: Martinez £2,500; Taylor £3,200
• Profits to be shared: Davis 50%; Martinez 30%; Taylor 20%
• Current accounts: Davis £2,300; Martinez £1,200; Taylor £800
• Capital accounts: Davis £40,000; Martinez £35,000; Taylor £28,000
• Drawings: Davis £11,000; Martinez £8,500; Taylor £9,000