Bantu, Muntu and Vanhu are friend who has started a partnership. The information extracted from their records on 31 December 2023 shows the following;

i)  Net profits P222,200.

ii) Interest to be charged on capitals: Bantu P6,000; Muntu P4,000; Vanhu P3,000.

iii)  Interest to be charged on drawings: Bantu P800; Muntu P600; Vanhu P400.

iv) Salaries to be credited: Muntu P40,000; Vanhu P50,000.

v) Profits to be shared: Bantu 60%; Muntu 30%; Vanhu 10%.

vi) Current accounts: balances b/d Bantu P37,200; Muntu P18,920; Vanhu P16,400.

vii) Capital accounts: balances b/d Bantu P200,000; Muntu P100,000; Vanhu P50,000.

viii) Drawings: Bantu P78,000; Muntu P54,200; Vanhu P36,600. 

Required:

a) Draw up a profit and loss appropriation account for the year ending 31 December 2023.   

b) Draw up the statement of financial position extract at 31 December 2023.