For December 31, 20x1, the balance sheet of Bander Corporation was as follows $18.000 20000 38000 Current Assets Ca Accounts receivable Inventory Pred span Fred Assets Gross plant and equipment Accumulated depen Not plant and equipment Labels S 18000 Accounts payable 21.000 Notes payable 31,000 Banda 12.000 Stockholders' Equity $ 250,000 Peter 51 200 Colock Padin Cape 5.204,800 Ronda 285,400 Tondo $ 20.000 61.000 31000 6400 $265.400 Sales for 20x2 were $250.000, and the cost of goods sold was to percent Selling and administrative pense was 525.000. Depreciation expense was pronto plant and equipment at the beginning of the year. Interest expense for the notes payable was 11 percent, while the interest rate on the bonds payable was 13 percent. This interest expenses based on December 1, 201, The tax reveraged 25 percent $2.000 in preferred stock dividends were pard, and 54.005 in dividends were comes there we 1.000 hares of con During 20x2, the cash balance and prepard perseves were unchange Accounts receivable and we 11 A w machine chased on December 312000, 141.000 Accounts payable increased by 30 percent. Nos payable cresty and bonds payable decreased by $12.000, both endore the compenso por um change a. Prepare an income talement for 20x2Round EPS answer to decimal) Baxter Corporation 2002 income Statement $ 5 S 5 Earnevelable to come stockholders S Cars person b. Prepare a statement of retained eamings for 20X2 Bustar Corporation 20x2ument of Readings Retained aming balance, January 1, 20X2 Retained ang balance, December 31, 2022 c. Prepare a bow of December 20 totected should be indicate with the Bacter Corporation 2002 Land Stockhol'Equity Ass Current A Total current Toutes Stockholders' Equity Foodass Net plant and equipment 5 Turbo Toots 5 and storey 15 ework (Chapters 1 and 2) i SH For December 31, 20x1, the balance sheet of Baxter Corporation was as follows: Current Assets Cash Accounts receivable Inventory Prepaid expenses Fixed Assets Gross plant and equipment Less: Accumulated depreciation $ 18,000 26,000 56,000 Liabilities $ 16,000 Accounts payable 21,000 Notes payable 31,000 Bonds payable 12,600 Stockholders Equity $256,000 Preferred stock 51,200 Common stock Paid in Capital $204,800 Retained earnings $285,400 Total 1Labilities and stockholders equity $ 26,000 61,000 31.000 67400 $285, 400 Net plant and equipment Total assets Sales for 20X2 were $250,000, and the cost of goods sold was 60 percent of sales. Selling and administrative expense Depreciation expense was 9 percent of plant and equipment (gross) at the beginning of the year. Interest expense for the payable was 11 percent, while the interest rate on the bonds payable was 13 percent. This interest expense is based on D 20X1 balances. The tax rate averaged 25 percent. $2.600 In preferred stock dividends were paid, and $4.085 in dividends were paid to common stockholders. There were shares of common stock outstanding. During 20X2. the cash balance and prepaid expenses balances were unchanged. Accounts receivable and inventory incre percent A new machine was purchased on December 31, 20X2 at a cost of $41000. Accounts payable increased by 30 percent. Notes payable Increased by $6.600 and bonds payable decreased by $18.000 end of the year. The preferred stock. common stock, and capite paid in excess of par accounts did not change