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Required information Income Statement As of December 31 Assets: Total revenue Total expense Required 1 Required 2 > 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) Common stock Retained earnings Dividends Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $17,000 1,100 5,200 50,000 $18,000 5,500 6,000 8,000 11,500 4,000 39,500 4,100 5,000 2,100 $88,500 $88,500