The following is the trial balance of Peace and Quiet, grocers, as at 31 December 20X9.

Additional information
1. The inventory at 31 December 20X9 was valued at £5,970.
2. There is electricity accrued at the end of the year of £60.
3. Stationery unused at 31 December 20X9 was valued at £50.
4. The equipment is depreciated at 10 per cent per annum on the reducing balance method.
5. There is a partnership deed that says that each partner is to be credited with interest on capital at 10 per cent per annum; salaries of £6,200 per annum for Peace and £4,800 per annum for Quiet; and charged interest on drawings of 8 per cent per annum. The remainder of the profit is to be divided equally between the partners.
6. Included in the capital of Peace is capital introduced of £1,000 on 1 April 20X9 and a loan to the partnership of £2,000 on 1 October 20X9.

Required
Prepare the statement of profit or loss and appropriation account for the year and a statement of financial position at 31 December 20X9.

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Capital: Peace Capital: Quiet Current account: Peace Current account: Quiet Purchases/sales revenue Trade receivables/trade payables Leasehold shop at cost Equipment at cost Depreciation on equipment Shop assistants' salaries Light and heat Stationery Bank interest and charges Inventory Bank Drawings - Peace 1 May 20X9 - Quiet 1 September 20X9 Debit £ 45,620 1,210 18,000 8,500 5,320 1,850 320 45 6,630 3,815 2,200 1,800 95,310 Credit £ 10,000 5,000 1,280 3,640 69,830 4,360 1,200 95,310