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

	Debit			Credit
Cash	$	164,100
Accounts receivable		55,500
Interest receivable		20,200
Notes receivable (due in 90 days)		170,000
Office supplies		16,500
Automobiles		168,000
Accumulated depreciationAutomobiles				$	95,000
Equipment		138,000
Accumulated depreciationEquipment					24,000
Land		83,000
Accounts payable					100,000
Interest payable					20,000
Salaries payable					22,000
Unearned fees					38,000
Long-term notes payable					150,000
R. Chiara, Capital					285,800
R. Chiara, Withdrawals		55,000
Fees earned					554,000
Interest earned					22,000
Depreciation expenseAutomobiles		28,000
Depreciation expenseEquipment		21,000
Salaries expense		186,000
Wages expense		43,000
Interest expense		35,600
Office supplies expense		35,600
Advertising expense		65,500
Repairs expenseAutomobiles		25,800
Totals	$	1,310,800		$	1,310,800

Required: 1(a) Prepare the income statement for the year ended December 31. 1(b) Prepare the statement of owner's equity for the year ended December 31. [Note: R. Chiara, Capital at Dec. 31 of the prior year was $285,800.] 1(c) Prepare Chiara Company's balance sheet as of December 31.