18. The following is the adjusted trial balance of Wilson Trucking Company.

Account Title	Debit			Credit
Cash	$	9,500
Accounts receivable		16,500
Office supplies		2,000
Trucks		192,000
Accumulated depreciationTrucks				$	39,552
Land		75,000
Accounts payable					13,500
Interest payable					3,000
Long-term notes payable					52,000
Common stock					15,000
Retained earnings					167,724
Dividends		19,000
Trucking fees earned					123,000
Depreciation expenseTrucks		25,511
Salaries expense		57,687
Office supplies expense		6,000
Repairs expenseTrucks		10,578
Totals	$	413,776		$	413,776

The Retained Earnings account balance is $167,724 at December 31, 2016. (1) Prepare the income statement for the year ended December 31, 2017. (2) Prepare the statement of retained earnings for the year ended December 31, 2017.