Prepare a profit and loss appropriation account for Richardson, Collins, and Howard for the year ended 31 December 20Z6, and balance sheet extracts using the following data:

• Net profits: £40,400
• Interest to be charged on capitals: Richardson £2,500; Collins £1,900; Howard £1,600
• Interest to be charged on drawings: Richardson £280; Collins £230; Howard £180
• Salaries to be credited: Collins £3,300; Howard £4,000
• Profits to be shared: Richardson 50%; Collins 30%; Howard 20%
• Current accounts: Richardson £2,200; Collins £1,200; Howard £950
• Capital accounts: Richardson £55,000; Collins £23,000; Howard £26,000
• Drawings: Richardson £11,500; Collins £8,700; Howard £9,100