Check my workCheck My Work button is now enabledItem 3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 8,000 Accounts receivable 16,500 Office supplies 2,000 Trucks 195,000 Accumulated depreciationTrucks $ 40,170 Land 75,000 Accounts payable 12,000 Interest payable 3,000 Long-term notes payable 52,000 Common stock 51,950 Retained earnings 137,500 Dividends 19,000 Trucking fees earned 122,000 Depreciation expenseTrucks 25,910 Salaries expense 57,218 Office supplies expense 9,500 Repairs expenseTrucks 10,492 Totals $ 418,620 $ 418,620 The Retained Earnings account balance was $137,500 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