Question: can someone help me. This is a two part problem. Required information [The following information applies to the questions displayed below) The following is the

 can someone help me. This is a two part problem. Required
information [The following information applies to the questions displayed below) The following
is the adjusted trial balance of Sierra Company Sierra Company Adjusted Trial
can someone help me. This is a two part problem.

Required information [The following information applies to the questions displayed below) The following is the adjusted trial balance of Sierra Company Sierra Company Adjusted Trial Balance December 31 Account Title Debit Credit Cash $ 41,800 Prepaid insurance 2,300 Notes receivable (due in 5 years) 7,600 Buildings 110,000 Accumulated depreciation-Buildings $ 30,000 Accounts payable 11,500 Notes payable (due in 3 years) 12,000 Common stock 24,000 Retained earnings 13,500 Dividends 20,000 Consulting revenue 99,500 Wages expense 5,300 Depreciation expense-Buildings 11,000 Insurance expense 3300 Totals $ 190,500 $ 190,500 (1) Prepare an income statement for the year ended December 31 (2) Prepare a statement of retained earnings for the year ended December 31 The Retained earnings account balance was $13.500 on December 31 of the prior year complete this question by entering your answers in the tabs Derow. Required 1 Required 2 Prepare an income statement for the year ended December 31. SIERRA COMPANY Income Statement 0 0 $ (1) Prepare an income statement for the year ended December 31 (2) Prepare a statement of retained earnings for the year ended December 31. The Retained earnings account balance was $13,500 on December 31 of the prior year Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a statement of retained earnings for the year ended December 31. The Retained earnings account balance was $13,500 on December 31 of the prior year. SIERRA COMPANY Statement of Retained Earnings Retained earnings. December 31 prior year 0 $ 0 Retained earnings December 31 current year

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