The adjusted trial balance for Chiara Company as of December $31$ follows.

Debit Credit

Cash $ $169,800$

Accounts receivable $51,500$

Interest receivable $21,800$

Notes receivable $($due in $90$ days$)169,000$

Office supplies $15,500$

Automobiles $168,000$

Accumulated depreciation$$Automobiles $ $60,000$

Equipment $146,000$

Accumulated depreciation$$Equipment $20,000$

Land $79,000$

Accounts payable $106,000$

Interest payable $40,000$

Salaries payable $19,000$

Unearned revenue $36,000$

Long$-$term notes payable $140,000$

Common stock $29,580$

Retained earnings $266,220$

Dividends $53,000$

Services revenue $574,000$

Interest revenue $26,000$

Depreciation expense$$Automobiles $25,000$

Depreciation expense$$Equipment $22,000$

Salaries expense $192,000$

Wages expense $46,000$

Interest expense $33,400$

Office supplies expense $33,600$

Advertising expense $60,000$

Repairs expense$$Automobiles $31,200$

Totals $ $1,316,800$ $ $1,316,800$

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 $31.$