Brick, Stone and Breeze carry on a manufacturing business in partnership, sharing profits and losses: Brick one-half, Stone one-third and Breeze one sixth. It is agreed that the minimum annual share of profit to be credited to Breeze is to be £2,200, and any deficiency between this figure and her true share of the profits is to be borne by the other two partners in the ratio that they share profits. No interest is to be allowed or charged on partners' capital or current accounts.

The trial balance of the firm as on 30 June 20X3 was as follows:

Additional information
1. An amount of £3,000, for goods sent out on sale or return, has been included in sales. These goods were charged out to customers at cost plus 25 per cent and they were still in the customers' hands on 30 June 20X3, unsold.
2. Included in the item, repairs and renewals is an amount of £820 for an extension to the factory.
3. Telephone and insurance paid in advance amounted to £424 and £42 owed in respect of a trade expense.
4. A debt of £80 has turned out to be bad and is to be written off.
5. The provision for doubtful debts is to be increased to £520.
6. Provision for depreciation on machinery and plant and on motor vehicles is to be made at the rate of 10 per cent and 20 per cent per annum, respectively, on the cost.
7. The value of the inventory on hand on 30 June 20X3 was £7,238.
8. Each month Brick has drawn £55, Stone £45 and Breeze £20, and the amounts have been included in salaries.
Required
a. Prepare the statement of profit and loss for the year ended 30 June 20X3.
b. Write up the partners' current accounts, in columnar form, for the year.
c. Draw up the statement of financial position as on 30 June 20X3.

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Debit Credit Inventory on July 20X2 Purchoses Manufocturing wages Salaries Rates, telephone and insurance Incidental trade expenses Repairs and renewals Cash discounts allowed Cash discounts received Office expenses Carriage inwards Carrioge outwards Professional charges 7,400 39,100 8,600 5,670 1,744 710 1,250 280 3,586 660 850 Sales revenue Provision for doubtful debts as at 1 July 20X2 Provision for depreciation as at 1 July 20X2 69,770 400 Machinery and plont Motor vehicles 2,500 1,300 Capital occounts: Brick Stone Breeze 9,000 5,000 4,000 Current accounts as at 1 July 20X2 1,900 500 400 Freehold buildings, at cost Machinery ond plant, at cost Motor vehicles, at cost Bank balance Sales ledger balances Bought ledger balances 9,800 8,200 2,500 750 ,000 4,330 99,100 2 99,100