Prepare a profit and loss appropriation account and balance sheet extracts for Simmons, Kelly, and Morgan for the year ended 31 December 20Z9:

• Net profits: £38,600
• Interest to be charged on capitals: Simmons £2,100; Kelly £1,700; Morgan £1,400
• Interest to be charged on drawings: Simmons £230; Kelly £200; Morgan £170
• Salaries to be credited: Kelly £3,200; Morgan £3,900
• Profits to be shared: Simmons 55%; Kelly 25%; Morgan 20%
• Current accounts: Simmons £2,200; Kelly £1,100; Morgan £850
• Capital accounts: Simmons £50,000; Kelly £26,000; Morgan £23,000
• Drawings: Simmons £11,200; Kelly £8,100; Morgan £9,000