The adjusted trial balance for Chiara Company as of December 31, 2017, follows.

Required
1. Use the information in the adjusted trial balance to prepare
(a) The income statement for the year ended December 31, 2017;
(b) The statement of owner's equity for the year ended December 31, 2017;
(c) The balance sheet as of December 31, 2017.
2. Compute the profit margin for year 2017 (use total revenues as the denominator).

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Credit Cash Accounts recelvable Interest recelvable Notes recelvable (due In 90 days) Office supplles S 30,000 52,000 18,000 168,000 16,000 168,000 $50,000 138,000 18,000 78,000 Accounts payable Interest payable Salares payable Unearned fees Long-term notes payable R. Chlara, Capital R. Chlara, Withdrawals Fees earned Interest earned 96,000 20,000 19,000 30,000 138,000 255,800 46,000 484,000 24,000 Salarles expense Wages expense Interest expense Office supplies expense Advertising expense Repalrs expense-Automoblles 26,000 18,000 188,000 40,000 32,000 34,000 58,000 4.800 $1,134,800 $1,134,800