Reference no: EM131267798
The adjusted trial balance for Chiara Company as of December 31, 2013, follows. Debit Credit Cash $ 47,000 Accounts receivable 69,000 Interest receivable 26,500 Notes receivable (due in 90 days) 185,000 Office supplies 24,500 Automobiles 202,000 Accumulated depreciation—Automobiles $ 67,000 Equipment 172,000 Accumulated depreciation—Equipment 35,000 Land 95,000 Accounts payable 181,000 Interest payable 25,100 Salaries payable 27,500 Unearned fees 47,000 Long-term notes payable 146,500 Common stock 20,000 Retained earnings 252,800 Dividends 54,500 Fees earned 518,000 Interest earned 41,000 Depreciation expense—Automobiles 34,500 Depreciation expense—Equipment 26,500 Salaries expense 205,000 Wages expense 57,000 Interest expense 33,700 Office supplies expense 35,700 Advertising expense 66,500 Repairs expense—Automobiles 26,500 Totals $ 1,360,900 $ 1,360,900 1(a) Prepare income statement for the year ended December 31, 2013 1(b) Prepare statement of retained earnings for the year ended December 31, 2013. 1(c) Prepare Chiara Company's balance sheet as of December 31, 2013
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