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

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 $31.$

Complete this question by entering your answers in the tabs below.

Required A

Prepare the income statement for the year ended December $31.$

Complete this question by entering your answers in the tabs below.

Required A Required B Required C

Prepare Chiara Company's balance sheet as of December $31$

Complete this question by entering your answers in the tabs below.

Required A Required B

Prepare 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.$]$

CHIARA COMPANY