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Financial ratios computed for Whittaker Incorporated include the following: - All sales during the year were made on account. Cash collections during the year exceeded
Financial ratios computed for Whittaker Incorporated include the following: - All sales during the year were made on account. Cash collections during the year exceeded sales by $17,000, and no uncollectible accounts were written off. - The balance of the accounts receivable account was $45,000 on January 1,2023 . - No common stock was issued during the year. - Dividends declared and paid during the year were $8,628 - The balance of the inventory account was $73,491 on January 1,2023 - Interest expense on the income statement relates to the 12% bonds payable; $10,000 of these bonds were issued on May 1,2023 ; 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 Incorporated. Comnlato the incomo ctatomont far Whittakor Incorporate WHITTAKER INCORPORATED
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