(Solved): The following is the adjusted trial balance of Sierra Company. QS 3-30 (Static) Preparing an income ...

The following is the adjusted trial balance of Sierra Company. QS 3-30 (Static) Preparing an income statement \& statement of retained earnings LO C2 (1) Prepare an income statement for the year ended December 31 . (2) Prepare a statement of retained earnings for the year ended December 31. The Retained Earnings account balance was \( \$ 4,500 \) on December 31 of the prior year.