The following is the adjusted trial balance of Sierra Company.

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Required information [The following information applies to the questions displayed below.] The following is the adjusted trial balance of Sierra Company. (1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of retained earnings for the year ended December 31 . The Retained earnings account balance was $12,000 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. (1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of retained earnings for the year ended December 31. The Retained earnings account balance was $12,000 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year ended December 31. 1) Prepare an income statement for the year ended December 31. 2) Prepare a statement of retained earnings for the year ended December 31 . The Retained earnings account balance was $12,000 on December 31 of the prior year. Complete this question by entering your answers in the tabs below. Prepare a statement of retained earnings for the year ended December 31. The Retained earnings account balance was $12,000 on December 31 of the prior year