The adjusted trial balance for Chiara Company as of December 31 follows. Credit Debit $ 96,700 56,000 20,600 171,500 16,500 174,000 $ 70,000 144,000 23,000 84,000 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 Salaries payable Unearned revenue Long-term notes payable Common stock Retained earnings Dividends Services revenue Interest revenue Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles Totals 104,000 20,000 19,000 30,000 146,000 32,580 293, 220 54,000 484,000 28,000 25,500 22,000 182,000 39,000 33, 400 35,200 63,000 32,400 $ 1,249,800 $ 1,249,800 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. 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 Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31 Revenues Services revenue Interest revenue 484,000 28,000 $ 512,000 Total revenues Expenses Salaries expense Wages expense Office supplies expense Advertising expense Repairs expense-Automobiles Interest expense Depreciation expenseAutomobiles Depreciation expense-Equipment 182,000 39,000 35,200 63,000 32,400 33,400 25,500 22,000 Total expenses Net income 432,500 79,500 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 Assets Cash $ 96,700 56,000 20,600 Accounts receivable Interest receivable Notes receivable Office supplies Automobiles Accumulated depreciationAutomobiles Equipment Accumulated depreciation Equipment Land 0 0 Total assets $ 173,300 Liabilities Accounts payable Salaries payable Interest payable Unearned revenue Total liabilities 0 Equity Common stock Retained earnings 0 Total equity Total liabilities and equity $ 0