Here is the problem: Jomer Company uses the perpetual inventory procedure. Given below is an abbreviated balance sheet for the company as of Dec. 31, 2019: Current Assets: Cash Accounts Receivable 22,000 44,000 Inventory 96,000 Prepaid Expenses 8,000 Total Current Assets 170,000 Fixed Assets: Land Buildings Less Accumulated Depreciation Equipment Less Accumulated Depreciation 22,000 142,000 63,000 79,000 46,000 10,000 36,000 137,000 307,000 Total Fixed Assets Total Assets Current Liabilities: Accounts Payable 24,000 Income Taxes Payable 3,000 1/3 Accrued Expenses Payable Total Current Liabilities 6,000 33,000 Long-Term Liabilities: Bonds Payable, 7% due 2027 150,000 Notes Payable 8,000 Total Long-Term Liabilities 158,000 Stockholders'Equity: Capital Stock ($10 par, 5,000 shares) 50,000 Retained Earnings Total Stockholders'Equity 66,000 116,000 307,000 Total Liabilities & Equity The summarized transactions of the Jomer Company for 2020 are below: a. Sales on account 420,000 b. Purchases of merchandise on account 211,000 c. Cost of goods sold for the year 204,000 d. Collections from customers on account 442,000 e. Paid vendors on account 196,000 f. Paid for prepaid expenses during the year 8,000 Of the prepaid expenses, the amount that became 9. 10,000 miscellaneous expenses during the year h. Interest expense paid in cash 6,000 i. Payroll expense accrued during the year k. Paid accrued operating expenses 1. Paid accrued income taxes 136,000 137,000 2,200 m. Depreciation expense on building 17,000 n. Depreciation expense on equipment 6,900 o. New equipment purchased for cash 26,000 Income taxes are to be accrued at the rate of 28 p. percent. q. Dividends declared and paid 6,000 1/31/2021 A. Post the entries from the summarized transactions above into the ledger accounts provided, being careful to keep the running balances of all accounts in the ledger. (Please note that you will not be able to post transaction "p" for the income tax accrual until the income statement is almost complete.) B. Prepare an income statement for Jomer Company for the year ending Dec. 31, 2020. C. Prepare a statement of retained earnings for Jomer Company for the year ending Dec. 31, 2020. D. Prepare a balance sheet for Jomer Company as of Dec. 31, 2020