Exercise 3-7 Preparing financial statements LO P3 The following is the adjusted trial balance of Wilson Trucking Company Account Title Cash Accounts receivable Office supplies Trucks Debit Credit $ 8,000 17,500 3,000 172,000 $ 36,000 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 85,000 12,000 4,000 53,000 20,000 155,000 20,000 130,000 23,500 61,000 8,000 12,000 Totals $ 410,000 S 410,000 The Retained Earnings account balance is $155,000 at December 31, 2014 (1). Prepare the income statement for the year ended December 31, 2015 WILSON TRUCKING COMPANY Income Statement For Year Ended December 31, 2015 Revenues Expenses Total expenses