The adjusted trial balance for Chiara Company as of December 31 follows. Credit Debit $ 166,700 53,500 21,300 170.500 16,500 173,000 $100,000 148.000 27.000 Cash Accounts receivable Interest receivable Noten receivable (doe in 90 days) office supplies Automobiles Accumulated depreciation Automobiles Equipment Accumulated depreciation Equipment Land Accounts payable Interest payable Salarios payable Unearned fees Long-ter notes payable Common stock Metained earnings Dividende rees earned Interest and Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expen-Automobiles Totale 106,000 35,000 18,000 32,000 142.000 32.580 293,220 45,000 314,000 24,000 20,000 20.500 183.000 47,000 34,800 13,200 65,500 30.800 $1,323,800 $1,323,800 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. Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31 $ 0 0 Totals 31,323,800 31,323,000 Required: Use the information in the adjusted trial balance to prepare to 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 Prepare the statement of retained earnings for the year ended December 31. (Note: Retained Earnings at December 31 of the prfor year was $293,220.1 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 > CHIARA COMPANY Balance Sheet December 31 0 0 $ 0 0 0 $ $ 0