10 Problem 3-4A (Static) Preparing financial statements from the adjusted trial balance LO P5 The adjusted trial balance for Chiara Company as of December 31 follows. Debit Credit eBook Part 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. $ 30.000 52,000 18,000 168,000 16,000 168,000 $50,000 138,000 18,000 78,000 96,000 20,000 Salaries payable 19,000 Unearned revenue Long-term notes payable Common stock Retained earnings Dividends 30,000 138,000 20,000 235,800 46,000 Services revenue 484,000 24,000 Interest revenue Depreciation expense-Automobiles 26,000 Depreciation expense-Equipment 10,000 Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals 186,000 40,000 32,000 34,000 58,000 24,000 5 1,134,800 $ 1,134,900 Check my work 10 10 Book Complete this question by entering your answers in the tabs below. 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 Revenues $ 0 Che Complete this question by entering your answers in the tabs below. 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 $235,800.] CHIARA COMPANY Statement of Retained Earnings For Year Ended December 31 Retained eamings, December 31 prior year end 0 Retained earnings, December 31 current year end $ 0 10 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 Eamings at December 31 of the prior year was $235.800) and (c) the balance sheet as of December 31 Complete this question by entering your answers in the tabs below. Required A Required Required C Prepare Chiara Company's balance sheet as of December 31. CHIARA COMPANY Belance Sheet December 31 0 $ Next 2 Check my work