Required information Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin LO P3, A1, A2 {The following information applies to the questions displayed below.] The adjusted trial balance for Chiara Company as of December 31, 2017, follows. Credit Debit $ 140,800 55,500 18,400 169,000 16,000 174,000 65,000 140,000 26,000 83,000 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 Common stock Retained earnings Dividends 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 104,000 20,000 26,000 40,000 152,000 34,580 311,220 48,000 484,000 24,000 27,000 20,000 185,000 46,000 36,800 34,200 65,500 27,600 $1,286,800 $1,286,800 Prepare Ce srieel ds Cerrider CHIARA COMPANY Balance Sheet December 31, 2017 0 0 $ 0 0 0 Ben 1R Ben 1 CHIARA COMPANY Income Statement For Year Ended December 31, 2017 $ 140,000 55,500 18,400 $ 213,900 Cash Accounts receivable Interest receivable Total revenues Expenses Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expenseAutomobiles Total expenses Net income 24,000 311,220 27,000 20,000 185,000 46,000 36,800 34,200 65,500 27,600 777,320 550,620