Riley Company uses the perpetual inventory procedure. Given below is an abbreviated balance sheet for the company as of Dec. 31, 2019:

Current Assets:
Cash	22,000
Accounts Receivable	44,000
Inventory	96,000
Prepaid Expenses	8,000
Total Current Assets		170,000
Fixed Assets:
Land		22,000
Buildings	142,000
Less Accumulated Depreciation	63,000	79,000
Equipment	46,000
Less Accumulated Depreciation	10,000	36,000
Total Fixed Assets		137,000
Total Assets		307,000
Current Liabilities:
Accounts Payable	24,000
Income Taxes Payable	3,000
Accrued Expenses Payable	6,000
Total Current Liabilities		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	66,000
Total Stockholders'Equity		116,000
Total Liabilities & Equity		307,000

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
g.	Of the prepaid expenses, the amount that became miscellaneous expenses during the year	10,000
h.	Interest expense paid in cash	6,000
i.	Payroll expense accrued during the year	136,000
k.	Paid accrued operating expenses	137,000
l.	Paid accrued income taxes	2,200
m.	Depreciation expense on building	17,000
n.	Depreciation expense on equipment	6,900
o.	New equipment purchased for cash	26,000
p.	Income taxes are to be accrued at the rate of 28 percent.
q.	Dividends declared and paid	6,000

Required:

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.