Prepare the income statement for the year ended December 31. Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; (b) the statement of retained earnings for the year ended December 31 [Note. Retained Earnings at December 31 of the prior year was $311,220. ; and (c) the balance sheet as of December 31. Complete this question by entering your answers in the tabs below. Prepare Chiara Company's balance sheet as of December 31. Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; (b) the statement of retained earnings for the year ended December 31 [ (Note. Retained Earnings at December 31 of the prior year was $311,220.; and (c) the balance sheet as of December 31 . Complete this question by entering your answers in the tabs below. Prepare the statement of retained earnings for the year ended December 31. [Note: Retained Earnings at December 31 of the prior year was $311,220.] Problem 3-4A (Algo) Preparing financial statements from the adjusted trial balance LO P5 The adjusted trial balance for Chiara Company as of December 31 follows. Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31 ; (b) the statement of retained earnings for the year ended December 31 [Note. Retained Earnings at December 31 of the prior year was $311,220; and (c) the balance sheet as of December 31