The adjusted trial balance for Chiara Company as of December 31, 2013, follows.

	Debit			Credit
Cash	$	32,000
Accounts receivable		54,000
Interest receivable		19,000
Notes receivable (due in 90 days)		170,000
Office supplies		17,000
Automobiles		172,000
Accumulated depreciationAutomobiles				$	52,000
Equipment		142,000
Accumulated depreciationEquipment					20,000
Land		80,000
Accounts payable					106,000
Interest payable					20,600
Salaries payable					20,000
Unearned fees					32,000
Long-term notes payable					139,000
Common stock					20,000
Retained earnings					237,800
Dividends		47,000
Fees earned					488,000
Interest earned					26,000
Depreciation expenseAutomobiles		27,000
Depreciation expenseEquipment		19,000
Salaries expense		190,000
Wages expense		42,000
Interest expense		32,200
Office supplies expense		34,200
Advertising expense		59,000
Repairs expenseAutomobiles		25,000
Totals	$	1,161,400		$	1,161,400

1(a)

Prepare income statement for the year ended December 31, 2013.

Prepare statement of retained earnings for the year ended December 31, 2013.

(c)

Prepare Chiara Company's balance sheet as of December 31, 2013

Calculate the profit margin for year 2013.