The adjusted trial balance for Chiara Company as of December 31 follows. Credit $ Debit 126,300 52,000 18,600 172,500 16,000 166,000 $ 45,000 144,000 26,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable R. Chiara, Capital R. Chiara, Withdrawals Fees earned Interest earned Depreciation expense-Automobiles nenradiation annan Sainment 87,000 105,000 20,000 24,000 34,000 152,000 275,800 47,000 554,000 26,000 27,500 19.00 Saved 26,000 87,000 105,000 20,000 24,000 34,000 152,000 275,800 47,000 Accumulated depreciation Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable R. Chiara, Capital R. Chiara, Withdrawals Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries, expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals 554,000 26,000 27,500 19,000 186,000 40,000 34,000 35,800 61,500 28, 600 $1,261,800 $1,261, 800 Required: (a) Prepare the income statement for the year ended December 31 th) Prenare the statement of owners enutit for the vear enden Deremher 21 INnte R Chiara Canital at Der 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 $275,800.) 1(c) Prepare Chiara Company's balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 10 Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31