Problem 3-5A Preparing financial statements from the adjusted trial balance and computing profit margin LO P3, A1, A2

[The following information applies to the questions displayed below.] The adjusted trial balance for Chiara Company as of December 31, 2017, follows.

	Debit			Credit
Cash	$	77,700
Accounts receivable		51,500
Interest receivable		23,000
Notes receivable (due in 90 days)		169,000
Office supplies		16,000
Automobiles		174,000
Accumulated depreciationAutomobiles				$	80,000
Equipment		148,000
Accumulated depreciationEquipment					22,000
Land		88,000
Accounts payable					105,000
Interest payable					45,000
Salaries payable					23,000
Unearned fees					42,000
Long-term notes payable					150,000
Common stock					25,580
Retained earnings					230,220
Dividends		51,000
Fees earned					484,000
Interest earned					36,000
Depreciation expenseAutomobiles		27,500
Depreciation expenseEquipment		21,500
Salaries expense		192,000
Wages expense		43,000
Interest expense		33,600
Office supplies expense		35,400
Advertising expense		62,000
Repairs expenseAutomobiles		29,600
Totals	$	1,242,800		$	1,242,800

1(c) Prepare Chiara Company's balance sheet as of December 31, 2017.