Prepare a profit and loss appropriation account and balance sheet extracts for Moore, Taylor, and Jackson for the year ended 31 December 20Y7:

• Net profits: £39,500
• Interest to be charged on capitals: Moore £2,400; Taylor £1,500; Jackson £1,600
• Interest to be charged on drawings: Moore £250; Taylor £190; Jackson £170
• Salaries to be credited: Taylor £3,000; Jackson £3,700
• Profits to be shared: Moore 50%; Taylor 30%; Jackson 20%
• Current accounts: Moore £2,200; Taylor £1,100; Jackson £950
• Capital accounts: Moore £55,000; Taylor £22,000; Jackson £28,000
• Drawings: Moore £11,000; Taylor £7,500; Jackson £8,200