Required information Use the following information for Quick Studies below. [The following information applies to the questions displayed below.) The following is the adjusted trial balance of Sierra Company Account Title Cash Prepaid insurance Notes receivable (due in 5 years) Buildings Accumulated depreciation-Buildinga Accounts payable Notes payable (due in 3 years) H. Sierra, Capital 1. Sierra, Withdrawala Consulting revenue Wages expense Depreciation expense-Buildings Insurance expense Totals Debit Credit $ 43,000 2,400 7,800 115,000 $ 31,000 12,000 12,500 39,000 10,500 104,500 5,400 11,500 3,400 $199,000 $199,000 QS 4-10 Preparing financial statements LO C2 Required (1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of owner's equity for the year ended December 31 Complete this question by entering your answers in the tabs below. 2 Required information t1 of 2 Required (1) Prepare an income statement for the year ended December 31. (2) Prepare a statement of owner's equity for the year ended December 31 ts Complete this question by entering your answers in the tabs below. Required 1 Required 2 Book Prepare an income statement for the year ended December 31. SIERRA COMPANY Income Statement ferences Total revenue Total expense Required 2 >