Financial ratios computed for Whittaker Inc. include the following: Current ratio Acid-test ratio Debt/equity ratio Inventory turnover Accounts receivable turnover Times interest earned Gross profit ratio Return on investment Earnings per share 2.0 to 1 1.4 to 1 2.0 to 1 3.0 times 6.4 times 5.35 times 40% 10.45% $ 6.87 . All sales during the year were made on account. Cash collections during the year exceeded soles by $12,000, and no uncollectible accounts were written off. . The balance of the accounts receivable account was $56,000 on January 1, 2020. No common stock was issued during the year. Dividends declared and paid during the year were $4,568. . The balance of the inventory account was $72,200 on January 1, 2020. . Interest expense on the income statement relates to the 10% bonds payable: $12,000 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. Balance Sheet December 31, 2020 Current assets: Cash Accounts receivable, net Inventory Total current assets Property, plant, and equipment, net Total assets Current liabilities Bonds payable, 10% Tatal liabilities Stockholders' equity Common stock, S4 par value Additional paid in capital Ratained earnings Total stockholders' equity Total liabilities and stockholders' equity 78.000 15.000 22.500