Whispering Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,741,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,605,000. In both years, the company incurred a 10% interest expense on $2,439,000 of debt, an obligation that requires interest-only payments for 5 years. The company experienced a loss from discontinued operations of $591,000 on February 2021. The company uses a 20% effective tax rate for income taxes. The capital structure of Whispering Corporation on June 1, 2019, consisted of 957,000 shares of common stock outstanding and 19,600 shares of $50 par value, 6%, cumulative preferred stock. There were no preferred dividends in arrears, and the company had not issued any convertible securities, options, or warrants. On October 1, 2019, Whispering sold an additional 505,000 shares of the common stock at $20 per share. Whispering distributed a 20% stock dividend on the common shares outstanding on January 1, 2020. On December 1, 2020, Whispering was able to sell an additional 824,000 shares of the common stock at $22 per share. These were the only common stock transactions that occurred during the two fiscal years. Identify whether the capital structure at Whispering Corporation is a simple or complex capital structure. Prepare, in good form, a comparative income statement, beginning with income from operations, for Whispering Corporation for the fiscal years ended May 31, 2020, and May 31, 2021. This statement will be included in Whispering's annual report and should display the appropriate earnings per share presentations. (Round earnings per share to 2 decimal places, e.g. $1.55.) WHISPERING CORPORATION Comparative Income Statement For Fiscal Years Ended May 31, 2020 and 2021 2020 2021 Earnings per share