Based on the financial information below, prepare a

income statement and a balance sheetforWebstercompany for the year ended December 31, 2019.Unless otherwise indicated, assume all information below is either for the year 2019or as of December 31, 2019.

Accounts receivable.........................................$9,000

Accumulated depreciation.................................$12,000

Cost of goods sold..........................................$4,000

Income tax expense.........................................$1,000

Cash...........................................................$15,000

Sales...........................................................$25,000

Equipment (gross)...........................................$30,000

Selling, general, & administrative expenses.............$5,000

Common stock (1,000shares)..............................$15,000

Accounts payable...........................................$25,000

Retained earnings...........................................$9,500

Interest expense.............................................$200

Inventory.....................................................$18,000

Long-term debt..............................................$10,500

Dividends declared and paid..............................$800