Using the following data, prepare a profit and loss appropriation account for Allen, Wilson, and Adams for the year ended 31 December 22X1, and balance sheet extracts:

• Net profits: £49,000
• Interest to be charged on capitals: Allen £2,700; Wilson £2,100; Adams £1,800
• Interest to be charged on drawings: Allen £300; Wilson £260; Adams £220
• Salaries to be credited: Wilson £3,800; Adams £4,300
• Profits to be shared: Allen 50%; Wilson 30%; Adams 20%
• Current accounts: Allen £2,500; Wilson £1,400; Adams £1,200
• Capital accounts: Allen £60,000; Wilson £30,000; Adams £28,000
• Drawings: Allen £13,000; Wilson £9,400; Adams £10,000