The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 195,400 51,500 22,800 172,000 15,500 172,000 $ 70,000 138,000 18,000 80,000 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 fees Long-term notes payable Common stock Retained earnings Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office Supplies expense Advertising expense Repairs expense-Automobiles Totals 96,000 25,000 25,000 42,000 146,000 29,580 266, 220 48,000 584,800 36,000 26,500 22,000 188,000 45,000 36,600 34,200 64,500 25,800 $1,337,800 $1,337,800 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 $266,220); and (c) the balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. B. Required A Required B Required Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31 Required > ME Gew Hill