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The adjusted trial balance for Chiara Company as of December 31 follows. Credit Debit $ 170,200 54,000 22,000 170,000 16,500 171,000 $ 100,000 138,000 24,000

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The adjusted trial balance for Chiara Company as of December 31 follows. Credit Debit $ 170,200 54,000 22,000 170,000 16,500 171,000 $ 100,000 138,000 24,000 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 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 101,000 50,000 17,000 38,000 152,000 24,580 221,220 45,000 544,000 32,000 26,000 19,000 182,000 47,000 33,600 35,000 62,500 32,000 $ 1,303,800 $ 1,303,800 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 $221,220.); 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 $ 0 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 $ 0 0 Required A Required B Required C Prepare the statement of retained earnings for the year ended December 31. [Note: Reta prior year was $221,220.] CHIARA COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, December 31 prior year end 0 Retained earnings, December 31 current year end $ 0 Required A Required B Required C Prepare Chiara Company's balance sheet as of December 31. CHIARA COMPANY Balance Sheet December 31 0 0 $ 0 0 0 $ O 0 0 $ 0

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