The adjusted trial balance for Chiara Company as of December 31, 2016, follows. Required Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31, 2016; (b) the statement of retained earnings for the year ended December 31, 2016; and (c) the balance sheet as of December 31, 2016.
Compute the profit margin for year 2016 (use total revenues as the denominator).
