Required information (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) H. Sierra, Capital H. Sierra, Withdrawals Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $ 35,000 2,000 7,000 95,000 $ 27,000 10,000 10,500 33,000 8,500 84,500 5,000 9,500 3,000 $165,000 $165,000 Totals $165,000 $165,000 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year ended December 31. SIERRA COMPANY Income Statement