Exercise 3-11 Preparing financial statements LO P6 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Credit Debit $ 8,900 16,500 2,000 172,000 $ 35, 432 75,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals 12,900 3,000 52,000 29,522 136,000 19,000 120,000 22,854 56,280 6,000 10,320 $388,854 $388,854 The Retained Earnings account balance was $136,000 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