The adjusted trial balance for Chiara Company as of December 31 follows. Cash $ 199,100 Accounts receivable 51,000 Interest receivable 19,000 Notes receivable (due in 90 days) 171,500 Office supplies 15,500 Automobiles 167,000 Accumulated depreciationAutomobiles $ 50,000 Equipment 142,000 Accumulated depreciationEquipment 22,000 Land 78,000 Accounts payable 104,000 Interest payable 15,000 Salaries payable 19,000 Unearned fees 32,000 Long-term notes payable 146,000 R. Chiara, Capital 345,800 R. Chiara, Withdrawals 51,000 Fees earned 574,000 Interest earned 36,000 Depreciation expenseAutomobiles 26,000 Depreciation expenseEquipment 19,000 Salaries expense 191,000 Wages expense 47,000 Interest expense 36,200 Office supplies expense 34,600 Advertising expense 64,500 Repairs expenseAutomobiles 31,400 Totals $ 1,343,800 $ 1,343,800 Required: 1(a) Prepare the income statement for the year ended December 31. 1(b) Prepare the statement of owner's equity for the year ended December 31. [Note: R. Chiara, Capital at Dec. 31 of the prior year was $345,800.] 1(c) Prepare Chiara Company's balance sheet as of December 31.