Using the following data, prepare a profit and loss appropriation account for Lewis, Walker, and James for the year ended 31 December 21X4, and balance sheet extracts:

• Net profits: £39,700
• Interest to be charged on capitals: Lewis £2,400; Walker £1,800; James £1,500
• Interest to be charged on drawings: Lewis £270; Walker £220; James £180
• Salaries to be credited: Walker £3,500; James £3,900
• Profits to be shared: Lewis 50%; Walker 30%; James 20%
• Current accounts: Lewis £2,100; Walker £1,200; James £950
• Capital accounts: Lewis £55,000; Walker £27,000; James £24,000
• Drawings: Lewis £11,500; Walker £8,300; James £9,100