Read the following information and answer questions that follow.

$1.$ Draw up a profit and loss appropriation account for the year ended $31$ December

$2014$ and a statement of financial position extract at that date, from the following:

i$.$ Net profits P$111,000$

ii$.$ Interest to be charged on capitals: Tshepo P$3,000,$ Kesego P$2,000,$ Kgotla P$1,$

$500.$

iii. Interest to be charged on drawings: Tshepo P$400,$ Kesego P$300,$ Kgotla P$300.$

iv$.$ Salaries to be credited: Kesego P$20,000$; Kgotla P$25,000.$

v$.$ Profits to be shared: Tshepo $70\%$; Kesego $20\%$; Kgotla $10\%.$

vi$.$ Current accounts: balances b$/$d Tshepo P$18,600$; Kesego P$9,460$; Kgotla P$8,200.$

vii. Capital accounts: balances b$/$d Tshepo P$100,000$; Kesego P$50,000$; Kgotla P$25,$

$000.$

viii. Drawings: Tshepo P$39,000$; Kesego P$27,100$; Kgotla P$16,800$