Use the following adjusted trial balance of Wilson Trucking Company to prepare the (1) income statement, and (2) statement of retained earnings, for the year ended December 31, 2008.

Account Title Debit Credit Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,000 Accounts receivable . . . . . . . . . . . . . . . . . . . 17,500 Office supplies . . . . . . . . . . . . . . . . . . . . . . 3,000 Trucks . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172,000 Accumulated depreciation—Trucks . . . . . . . . $ 36,000 Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85,000 Accounts payable . . . . . . . . . . . . . . . . . . . . . 12,000 Interest payable . . . . . . . . . . . . . . . . . . . . . . 4,000 Long-term notes payable . . . . . . . . . . . . . . . 53,000 Common stock . . . . . . . . . . . . . . . . . . . . . . 100,000 Retained earnings . . . . . . . . . . . . . . . . . . . . 75,000 Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000 Trucking fees earned . . . . . . . . . . . . . . . . . . 130,000 Depreciation expense—Trucks . . . . . . . . . . . 23,500 Salaries expense . . . . . . . . . . . . . . . . . . . . . 61,000 Office supplies expense . . . . . . . . . . . . . . . . 8,000 Repairs expense—Trucks . . . . . . . . . . . . . . . 12,000 Totals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $410,000 $410,000.