Case $11-21($Algo$)$ Analytical case$-$complete an income statement and balance sheet using financial

ratio data

Financial ratios computed for Whittaker Incorporated include the following:

All sales during the year were made on account. Cash collections during the year exceeded sales by $$13,000,$ and no uncollectible

accounts were written off.

The balance of the accounts receivable account was $$49,000$ on January $1,2023.$

No common stock was issued during the year.

Dividends declared and paid during the year were $$5,864.$

The balance of the inventory account was $$50,000$ on January $1,2023.$

Interest expense on the income statement relates to the $15\%$ bonds payable; $$10,000$ of these bonds were issued on May $1,2023$ ;

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 Incorporated. Required:

a$.$ Complete the income statement and balance sheet for Whittaker Incorporated.

Complete this question by entering your answers in the tabs below.

Complete the income statement for Whittaker Incorporated.

WHITTAKER INCORPORATED

Income Statement

For the Year Ended December $31,2023$ Required:

a$.$ Complete the income statement and balance sheet for Whittaker Incorporated.

Complete this question by entering your answers in the tabs below.

Required A$1$

Required A$2$

Complete the balance sheet for Whittaker Incorporated.

$\backslash$table$[[$WhITTAKER INCORPORATED,$],[$Balance Sheet,$],[$December $31,2023,],[$Current assets:,$],[$Cash$,],[$Accounts receivable, net,$],[$Inventory$,],[$Total current assets,$],[$Property$,$ plant, and equipment, net,$],[$Total assets,$],[$Current liabilities,$],[$Bonds payable, $15\%,],[$Total liabilities,$],[$Stockholders$\text{'}$ equity:,$],[$Common stock, $$4$ par value,$],[$Additional paid$-$in capital,$],[$Retained earnings,$],[$Total stockholders' equity,$],[$Total liabilities and stockholders' equity,$]]$