Cash Account Title Debit $ 5,000 16,500 Credit Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable 2,000 173,000 $ 35,638 75,000 9,000 3,000 Long-term notes payable 52,000 Common stock 16,659 Retained earnings 139,500 Dividends 19,000 Trucking revenue 142,000 Depreciation expense-Trucks 22,987 Salaries expense 66,598 Office supplies expense 5,500 Repairs expense-Trucks 12,212 Totals $397,797 $397,797 The Retained Earnings account balance was $139,500 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of retained earnings 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 Year Ended December 31 Required information Required 1 Required 2 Prepare the income statement for the year ended December 31. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Expenses Total expenses The Retained Earnings account balance was $139,500 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of retained earnings for the year ended December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the statement of retained earnings for the year ended December 31. WILSON TRUCKING COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, December 31 prior year Retained earnings, December 31 current year