The adjusted trial balance for Chiara Company as of December 31 follows. Credit Debit $ 90,000 51,500 21,000 169,500 16,500 167,000 $ 95,000 136,000 17,000 86,000 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 revenue Long-term notes payable Common stock Retained earnings Dividends Services revenue Interest revenue Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals 91,000 40,000 15,000 36,000 144,000 25,580 230, 220 51,000 504,000 32,000 27,500 22,000 189,000 39,000 37,600 33, 400 64,000 28,800 $ 1,229,800 $ 1,229,800 Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; (b) the statement of retained earnings for the year ended December 31 (Note: Retained Earnings at December 31 of the prior year was $230,220.); and (c) the balance sheet as of December 31. Required A Required B Required C Prepare the income statement for the year ended December 31. CHIARA COMPANY Income Statement For Year Ended December 31 $ 0 0 Required A Required B Required C Prepare the statement of retained earnings for the year ended December 31. [Note: Retained Earnings at December 31 of the prior year was $230,220.] CHIARA COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, December 31 prior year end 0 Retained earnings, December 31 current year end $ 0 Required A Required B Required C Prepare Chiara Company's balance sheet as of December 31. CHIARA COMPANY Balance Sheet December 31 0 0 $ 0 0 0 $ 0