Account Title Cash [The following information applies to the questions displayed below.] The following is the...

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Account Title Cash [The following information applies to the questions displayed below.] The following is the adjusted trial balance of Sierra Company. Debit Credit $19,000 Prepaid insurance 1,200 Notes receivable (due in 5 years) 5,400 Buildings 55,000 Accumulated depreciation-Buildings $19,000 Accounts payable 6,000 Notes payable (due in 3 years) 6,500 H. Sierra, Capital 21,000 H. Sierra, Withdrawals 4,500 Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals 44,500 4,200 5,500 2,200 $97,000 $97,000 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. Account Title Cash [The following information applies to the questions displayed below.] The following is the adjusted trial balance of Sierra Company. Debit Credit $19,000 Prepaid insurance 1,200 Notes receivable (due in 5 years) 5,400 Buildings 55,000 Accumulated depreciation-Buildings $19,000 Accounts payable 6,000 Notes payable (due in 3 years) 6,500 H. Sierra, Capital 21,000 H. Sierra, Withdrawals 4,500 Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals 44,500 4,200 5,500 2,200 $97,000 $97,000 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.