3-) Trial Balance for the end of December 2018 for LORA COMPANY is given below. LORA COMPANY Account Name Debit Credit Cash $20,000 Accounts Receivable 13,000 Inventories 6,000 Long-Term Debt 4,000 Prepaid Insurance Expense 4,000 Machinery 120,000 Accumulated Depreciation, Machinery 100,000 Accounts Payable 6,000 Accrued Salaries Expense 3,000 Accrued Utility Expense 1,000 Common Stock Retained Earnings 24,000 12,000 Dividend Payment 3,000 Sales 74,000 Interest Expense 1,000 Corporate Tax Expense 4,000 Cost of Goods Sold 20,000 Wages Expense 8,000 Insurance Expense 7,000 Advertising Expense 1,000 Supplies Expense 9,000 Depreciation Expense 2,000 Sales Expense 5,000 Utility Expense 1,000 Total $224,000 $224,000 Required: Prepare the balance sheet as of December 31st, 2020 and income statement for the year 2020 in good form.