The adjusted trial balance for Chiara Company as of December 31 follows. 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 Debit Credit $ 70,500 55,500 22,400 170, 500 17,000 Salaries payable Unearned revenue Long-term notes payable 172,000 $ 65,000 142,000 26,000 85,000 104,000 45,000 18,000 44,000 144,000 Common stock Retained earnings 25,580 230,220 Dividends 55,000 Services revenue Interest revenue 494,0 36,080 Depreciation expense-Automobiles 25,000 Depreciation expense-Equipment 19,000 Salaries expense 188,000. Wages expense 47,000 Interest expense Advertising expense 36,800 Office supplies expense Repairs expense-Automobiles Totals 35,200 60,500 30,400 $ 1,231,800 $ 1,231,800 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 $230,220]; and (c) the balance sheet as of December 31.