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A & R Problem 13-1 The following adjusted trial balance information (with accounts in alphabetical order) for Willis Tour Co. Inc. as at December 31, 2020, was made available after its second year of operations: Account Accounts Payable Accumulated Depreciation, Office Equipment Cash Common Shares, 31,000 authorized; 10,000 issued and outstanding Dividends Payable Gain on Expropriation of Land and Building Income Tax Expense Income Tax Payable Loss on Sale of Office Equipment Notes Payable (due in 18 months) Office Equipment Operating Expenses Preferred Shares, $0.20 non-cumulative; 6,100 shares authorized; 2,000 shares issued and outstanding Prepaid Rent Retained Earnings Ticket Sales Totals Debit $ 18,600 13,000 14,600 67,000 206,500 23,600 Credit $ 3,600 9,100 13,600 5,600 36,000 3,100 9,600 11,100 16,600 235,000 $343,300 $343,300 ces Required: The dividends declared by Willis in the amount of $5,600 during the year ended December 31, 2020, were debited directly to retained earnings. Prepare an income statement (in multi-step format), and a classified balance sheet for Willis Tour Co. Inc. using the information provided. Include the appropriate presentation for earnings per share. (Round the "Earnings per Share" answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) WILLIS TOUR CO. INC Income Statement For Year Ended December 31, 2020 Profit from operations Other revenues and expenses: Current assets: Total current assets Property, plant and equipment: Total assets Current liabilities: WILLIS TOUR CO. INC Balance Sheet December 31, 2020 Assets Liabilities S Total current liabilities Non Current liabilities: Total liabilities Contributed capital: Total contributed capital Total equity Total liabilities and equity Equity Total contributed capital Total equity Total liabilities and equity Earnings per share

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