accounts were written off The balance of the accounts recelvable account was $56,000 on January 1, 2020. No common stock was issued during the year. Dividends declared and paid during the year were $5,202 The balance of the inventory account was $111.420 on January 1, 2020. Interest expense on the income statement relates to the 12% bonds payable, $10,000 of these bonds were Issued on May 1, 2020, the remaining amount of bonds payable were outstanding throughout the year All bonds were issued at face amount. Required: a. Complete the income statement and balance sheet for Whittaker Inc WHITTAKER INC. Income Statement For the Year Ended December 31, 2020 Sales Cost of goods sold Gross profit Operating experses Income from operabons Interest expense Income before taxes Income taxes (25%) Net income WHITTAKER INC. Balance Sheet December 31, 2020 Current assets Cash Accounts receivable, net Inventory Total current assets 158,000 Property, plant, and equipment, net Total assets Current liabilities 79,000 Bonds payable, 12% 64,000 Total liabilities 143,000 Stockholders' equity Common stock, $4 par value 20,000 30,000 Additional paid-in capital Retained earnings Total stockholders equity Total liabilities and stockholders' equity