****Please use the account names in full for the financial statements for clarification****

The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit $ 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 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 Long-term notes payable R. Chiara, Capital R. Chiara, Withdrawals Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles Totals 138,000 255,800 46,000 484,000 24,000 26,000 18,000 188,000 40,000 32,000 34,000 58,000 24,800 $1,134,800 $1,134,800 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