The adjusted trial balance for Chiara Company as of December 31 follows. Credit Debit $ 238,500 52,000 20,000 169,500 15,500 169,000 $ 80.000 140,000 23,000 87,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) office supplies Automobiles Accumulated depreciation Automobile 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 expenso-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expenso Repairs expense-Automobiles Totals 95,000 50,000 23,000 44,000 140,000 32,580 293, 220 45,000 574,000 36,000 28,000 22,500 188,000 45,000 38,000 35,600 65,000 32,200 $1,390,800 $1,390,000 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 $293,220); and (c) the 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 $293,220); and (c) the balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31 $ 0 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 wa $293,220); and (c) the balance sheet as of December 31. Complete this cuestion by entering your answers in the tabs below. Required A Required Required C Prepare the statement of retained earnings for the year ended December 31. (Note: Retained Earnings at December 31 of the prior year was $293,220.] CHIARA COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, Dec 31 prior year end 0 Retained earnings, Dec. 31 current year end $ 0 (Required A Required C > 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 $293,220); and (c) the balance sheet as of December 31. Complete this question by entering your answers in the tabs below. Required A. Required B Required C Prepare Chiara Company's balance sheet as of December 31. CHIARA COMPANY Balance Sheet December 31 0 0 $ 0