[The following information applies to the questions displayed below.] The following is the adjusted trial balance of Sierra Company. Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildings Accounts payable Notes payable (due in 3 years) H. Sierra, Capital H. Sierra, Withdrawals Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $ 23,000 1,400 5,800 65,000 $ 21,000 7,000 7,500 24,000 5,500 54,500 4,400 6,500 2,400 $114,000 $114,000 Required (1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of owner's equity for the year ended December 31. quired information Required 1 Required 2 Prepare an income statement for the year ended December 31. SIERRA COMPANY Income Statement Total revenue Total expense $ 0 > K. Required Required 2 Required information Required 1 Required 2 Prepare a statement of owner's equity for the year ended December 31. Owner made no investments during the currer period. SIERRA COMPANY Statement of Owner's Equity H. Sierra, Capital, December 31 prior year end 0 $ 0 H. Sierra, Capital, December 31 current year and . . etv s