The adjusted trial balance for Chiara Company as of December 31 follows. Credit Debit $ 153,200 53,000 18,800 171, 500 16,500 167,800 $ 90,000 138,000 20,000 78,000 Cash Accounts receivable Interest receivable Notes receivable (due in 98 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 101, eee 25,000 25,000 38,000 146,000 30,580 275,220 56,000 504,000 26,000 24,500 17,500 182,000 43,000 33,800 35,200 64,000 28,800 $1,280,800 $1,280,800 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 $275,220); and (c) the balance sheet as of December 31 Required A Required B Required C Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31 Required A Requir 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 prior year was $275,220.] CHIARA COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, Dec 31 prior year end Retained earnings, Dec 31 current year and Required A Required B Required C Prepare Chiara Company's balance sheet as of December 31. CHIARA COMPANY Balance Sheet December 31