Please answer the whole thing A ezto.mheducation.comM Question 7 - HOMEWORK CHAPTER 3 - ConnectC Rent/Buy BooksRK CHAPTER 3SavedThe adjusted trial balance for Chiara Company as of December 31 follows.Debit$ 30,00052,00018,000168,00016,000168,000CreditCashAccounts receivableInterest receivableNotes receivable (due in 90 days)Office suppliesAutomobilesAccumulated depreciation-AutomobilesEquipmentAccumulated depreciation-EquipmentLandAccounts payableInterest payableSalaries payableUnearned revenueLong-term notes payableCommon stockRetained earningsDividendsServices revenueInterest revenueDepreciation expense-AutomobilesDepreciation expense-EquipmentSalaries expenseWages expenseInterest expenseOffice supplies expenseAdvertising expenseRepairs expense-Automobiles$ 50,000138,00018,00078,00096,00020,00019,00030,000138, 00020,000235,800nces46,000484,00024,00026,00018,000188,00040,00032,00034,00058,00024,800$ 1,134,800Totals$ 1,134, 800Required:Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; (b) thestatement of retained earnings for the year ended December 31 (Note: Retained Earnings at December 31 of the prior year was$235,800.); and (c) the balance sheet as of December 31.w( Prev7 of 8Next >MacBook Air80888DIIF2F3F5#$&234578WETY< COR 00estion 7- HUMEWORK CHAPTER 3 - ConnectC Rent/BuWORK CHAPTER 3SavedKequirea AKequirea BKequirea CPrepare the income statement for the year ended December 31.CHIARA COMPANYIncome StatementFor Year Ended December 31BookPrinteferencesRequired ARequired BMcGrawHill< Prev7 of 8Next >MacBook Al888DIIF1F4F6F7FB@#&3457WET.YSFGHK

The financial statements are prepared by the business entity to show the performance of the…

The adjusted trial balance for Chiara Company as of December 31 follows. Debit $ 30,000 52,000 18,000 168,000 16,000 168,000 Credit Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned revenue Long-term notes payable Common stock Retained earnings Dividends Services revenue Interest revenue $ 50,000 138,000 18,000 78,000 96,000 20,000 19,000 30,000 138,000 20,000 235,800 46,000 484,000 24,000 Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles 26,000 18,000 188,000 40,000 32,000 34,000 58,000 24,800 $ 1,134,800 Totals $ 1,134,800 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.