Problem $3-4$A $($Algo$)$ Preparing financial statements from the adjusted trial balance

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

Required:

Use the information in the adjusted trial balance to prepare $($a$)$ the income statement for the year ended Dece

statement of retained eaunings for the year ended December $31[$Note: Retained Earnings at December $31$ of th

$$257,220.$ J$,$ and $($c$)$ the balance sheet as of December $31.$

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