Inc (AAPL) Q... UD Apple ROE%AAP... ex/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%... a Connect Home lysis Project Saved Help 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 1.7 to 1 1.2 to 1 1.6 to 1 3.2 times 5.2 times 4.50 times 20% 7.15% $3.63 All sales during the year were made on account. Cash collections during the year exceeded sales by $11,000, and no uncollectible accounts were written off. The balance of the accounts receivable account was $53,000 on January 1, 2020 No common stock was issued during the year. Dividends declared and paid during the year were $4,376 The balance of the inventory account was $73,500 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. o search o i a Required: a. Complete the income statement and balance sheet for Whittaker Inc. d ok WHITTAKER INC. Income Statement For the Year Ended December 31, 2020 Sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before taxes Income taxes (25%) Net income encos WHITTAKER INC. Balance Sheet December 31, 2020 Current assets Cash d ok S 170,000 ht ences Accounts receivable, net Inventory Total current assets Property, plant, and equipment, net Total assets Current liabilities Bonds payable, 12% Total liabilities Stockholders' equity Common stock, S4 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 61,000 S 20,000 30.000