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 $325,800, and there were no owner investments in the current year.] ; and (c) the balance sheet as of December 31.

Cash	$ 151,400
Accounts receivable	54,500
Interest receivable	18,800
Notes receivable (due in 90 days)	172,000
Office supplies	16,000
Automobiles	166,000
Accumulated depreciationAutomobiles		$ 75,000
Equipment	140,000
Accumulated depreciationEquipment		18,000
Land	87,000
Accounts payable		104,000
Interest payable		30,000
Salaries payable		25,000
Unearned revenue		36,000
Long-term notes payable		144,000
R. Chiara, Capital		325,800
R. Chiara, Withdrawals	50,000
Services revenue		494,000
Interest revenue		28,000
Depreciation expenseAutomobiles	25,000
Depreciation expenseEquipment	19,000
Salaries expense	185,000
Wages expense	38,000
Interest expense	34,800
Office supplies expense	33,800
Advertising expense	63,500
Repairs expenseAutomobiles	25,000
Totals	$ 1,279,800	$ 1,279,800

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 $325,800, and there were no owner investments in the current year.] ; and

(c) the balance sheet as of December 31.