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

	Debit	Credit
Cash	$ 166,200
Accounts receivable	53,000
Interest receivable	19,400
Notes receivable (due in 90 days)	172,500
Office supplies	16,500
Automobiles	174,000
Accumulated depreciationAutomobiles		$ 55,000
Equipment	136,000
Accumulated depreciationEquipment		19,000
Land	83,000
Accounts payable		106,000
Interest payable		50,000
Salaries payable		23,000
Unearned revenue		46,000
Long-term notes payable		150,000
R. Chiara, Capital		315,800
R. Chiara, Withdrawals	56,000
Services revenue		524,000
Interest revenue		28,000
Depreciation expenseAutomobiles	27,000
Depreciation expenseEquipment	19,000
Salaries expense	191,000
Wages expense	44,000
Interest expense	37,800
Office supplies expense	34,200
Advertising expense	61,000
Repairs expenseAutomobiles	26,200
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 owner's equity for the year ended December 31 [Note: R. Chiara, Capital at December 31 of the prior year was $315,800, and there were no owner investments in the current year.] ; and (c) the balance sheet as of December 31.