00 Exercise 4-11 Preparing financial statements LO C3 3.33 points The following adjusted year-end trial balance at December 31 of Wilson Trucking Company eBook Hint Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, withdrawals Trucking fees earned Depreciation expense-Trucks salaries expense office supplies expense Repairs expense Trucks Totala Debit Credit $ 7,400 16,500 2,000 168,000 $ 34,608 75,000 11,400 3,000 52,000 157,639 19,000 135,000 22,322 63,315 8,500 11,610 $393,647 $393, 647 References The K. Wilson, Capital account balance was $157,639 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31, (2) Prepare the statement of owner's equity for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the income statement for the year ended December 31. WILSON TRUCKING COMPANY Income Statement For Yoar Ended December 31 Revenues Expenses 8 ---- Repairs expense Trucks Totals 11,610 $393,647 $393,647 3.33 points The K. Wilson, Capital account balance was $157639 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31 (2) Prepare the statement of owner's equity for the year ended December 31. eBook Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 References Prepare the income statement for the year ended December 31. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Expenses 0 Total expenses $ 0 Required 2 8 3.33 points Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals 75,000 11,400 3,000 52,000 157,639 19,000 135,000 22, 322 63,315 8,500 11,610 $393,647 $393,647 eBook Hint The K. Wilson, Capital account balance was $157,639 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31, (2) Prepare the statement of owner's equity for the year ended December 31 References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the statement of owner's equity for the year ended December 31. WILSON TRUCKING COMPANY Statement of Owner's Equity For Year Ended December 31 K. Wilson, Capital, December 31 prior year 0 K. Wilson, Capital, December 31 current year $ 0