The adjusted trial balance for Chiara Company as of December 31 follows. Credit Debit $ 131,200 54,000 19,000 171,500 16,000 169,000 $ 95,000 140,000 20,000 81,000 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 92,000 20,000 24,000 44,000 150,000 26,580 239, 220 52,000 534,000 28,000 28,000 17,500 191,000 44,000 Innnnn 44,000 150,000 26,580 239,220 52,000 534,000 28,000 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 28,000 17,500 191,000 44,000 36,000 33,800 58,000 30,800 $1,272,800 $1,272,800 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 $239,220]; and (c) the balance sheet as of December 31. Complete this question by entering your answers in the tabs below. Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31 $ 0 0 Prepare the statement of retained earnings for the year ended December 31. [Note: Retained Earnings at December 31 of the prior year was $239,220.] CHIARA COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, Dec.31 prior year end 0 0 Retained earnings, Dec. 31 current year end $ Prepare Chiara Company's balance sheet as of December 31. CHIARA COMPANY Balance Sheet December 31 O 0 $ 0 $ TE