(Solved): Prepare the income statement for the year ended December 31. Required information [The follo ...

Prepare the income statement for the year ended December 31. Required information [The following information applies to the questions displayed bejow.] Stark company has the following adjusted accounts with normal balances at its December 31 year-end. Ise the adjusted accounts for Stark Company to prepore the (1) income statement and (2) statement of retained earnings for the year nded December 31 and (3) balance sheet at December 31, The Retained Earnings account balance was $\$74.800$ on December 31 of le prior year. Prepare the statement of retained earnings for the year ended December 31 . The Retained Earnings account balance was $\$74,800$ on December 31 of the prior year.