3-5A Preparing financial statements from the adjusted trial balance and computing profit margin The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit P6 A1 Cash Accounts receivable Interest receivable. Notes receivable (due in 90 days) Office supplies. Automobiles... Accumulated depreciation-Automobiles Equipment. Accumulated depreciation-Equipment Land Accounts payable Interest payable.. Salaries payable Unearned fees $ 30,000 52,000 18,000 168,000 16,000 168,000 $ 50,000 138,000 18,000 78.000 96,000 20,000 19,000 30,000 Long-term notes payable 138,000 R. Chiara, Capital. 255,800 R. Chiara, Withdrawals 46,000 Fees eamed 484,000 Interest earned 24,000 Depreciation expense-Automobiles 26.000 Depreciation expense-Equipment 18,000 Salaries expense 188.000 Wages expense 40,000 Interest expense 32.000 Advertising expense Office supplies expense Repairs expense-Automobiles Totals 34,000 58,000 24.800 $1.134 800 $1.134.800 Check (1) Total assets $600.000 Required 1. Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31: (b) the statement of owner's equity for the year ended December 31 [Note: R. Chiara, Capital at December 31 of the prior year was $255.800]; and (c) the balance sheet as of December 31. 2. Compute the profit margin for the year (use total revenues as the denominator)