Question: 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.

LO P5 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 December 31; (b)

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. 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. Complete this question by entering your answers in the tabs below. Prepare the income statement for the year ended December 31. Complete this question by entering your answers in the tabs below. 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. Dranara Chiara Cnmnanv's halance sheet as of December 31

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