A & R Problem 13-1 The following adjusted trial balance information (with accounts in alphabetical order) for Willis Tour Co. Inc. as at December 31, 2020. was made available after its second year of operations: Account Accounts Payable Accumulated Depreciation, Office Equipment Cash Debit Credit $ 3,900 9,400 Common Shares, 34,000 authorized; 10,000 issued and outstanding $ 18,900 13,900 Dividends Payable Income Tax Expense Gain on Expropriation of Land and Building 5,900 39,000 13,500 Income Tax Payable 3,400 Loss on Sale of Office Equipment 14,900 Notes Payable (due in 18 months)) 9,900 Office Equipment 70,000 Operating Expenses 209,500 Preferred Shares, $0.30 non-cumulative: 6,400 shares ces authorized; 2,000 shares issued and outstanding 11,400 Prepaid Rent 23,900 Retained Earnings Ticket Sales Totals 17,400 236,500 $350,700 $350,700 Required: The dividends declared by Willis in the amount of $5,900 during the year ended December 31, 2020, were debited directly to retained earnings. Prepare an income statement (in multi-step format), and a classified balance sheet for Willis Tour Co. Inc. using the information provided. Include the appropriate presentation for earnings per share. (Round the "Earnings per Share" answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) WILLIS TOUR CO. INC Income Statement For Year Ended December 31, 2020