2 WE yeyeuse years H. Sierra, Capital H. Sierra, withdrawals Consulting revenue Mages expense Depreciation expense-Buildings Insurance expense Totals 24,000 5,500 54,5ee 4,400 6,500 2,400 $114,000 $114,00 23 points Book QS 4-10 Preparing financial statements LO C2 Hi Required (1) Prepare an income statement for the year ended December 31, (2) Prepare a statement of owner's equity for the year ended December 31 Complete this question by entering your answers in the tabs below. Beferences Required: Required 2 Prepare an income statement for the year ended December 31. SIERRA COMPANY Income Statement Total revenue Total expen Required information Use the following information for Quick Studies below. [The following information applies to the questions displayed below) The following is the adjusted trial balance of Sierra Company Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) H. Sierra, Capital H. Sierra, Withdrawals Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $ 23,000 1,400 5,800 65,000 $ 21,000 7,000 7,500 24,000 5,500 54,500 4,400 6,500 2,400 $114,000 $114,000 QS 4-10 Preparing financial statements LO C2 Required (1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of owner's equity for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year ended December 31. Prey