The adjusted trial balance for Chiara Company as of December 31 follows. Debit $ 30,000 52,000 18,000 168,000 16,000 168,000 Credit 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 $ 50,000 138,000 18,000 78,000 96,000 20,000 19,000 30,000 138,000 20,000 235,800 46,000 484,000 24,000 Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles 26,000 18,000 188,000 40,000 32,000 34,000 58,000 24,800 $ 1,134,800 Totals $ 1,134,800 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 $235,800.); and (c) the balance sheet as of December 31.

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