Exercise 3-7 Preparing financial statements LO P3 The following is the adjusted trial balance of Wilson Trucking Company. Account Title Cash Debit $ 8,000 Credit Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land 17,500 3,000 172,000 $ 36,000 85,000 Accounts payable 12,000 Interest payable 4,000 Long-term notes payable 53,000 Common stock 20,000 Retained earnings 155,000 Dividends 20,000 Trucking fees earned 130,000 Depreciation expense-Trucks 23,500 Salaries expense 61,000 Office supplies expense 8,000 ces Repairs expense-Trucks 12,000 Totals $410,000 $410,000 The Retained Earnings account balance is $155,000 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2