Exercise 4-11 Preparing financial statements LO C3 The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 8,000 Accounts receivable 17,500 office supplies 3,000 Trucks 172,000 Accumulated depreciation-Trucks $ 36,000 Land 85,000 Accounts payable 12,000 Interest payable 4,000 Long-term notes payable 53,000 K. Wilson, Capital 175,000 K. Wilson, Withdrawals 20,000 Trucking fees earned 130,000 Depreciation expense-Trucks 23,500 Salaries expense 61,000 Office supplies expense 8,000 Repairs expense-Trucks 12,000 Totals $410,000 $410,000 The K. Wilson, Capital account balance was $175,000 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of owner's equity for the year ended December 31. ui. MWILI Wyny II Muruwe. 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 Revenues Expenses Total expenses 0 0 pure in Myoutucu Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the statement of owner's equity for the year ended December 31. WILSON TRUCKING COMPANY Statement of Owner's Equity For Year Ended December 31 K. Wilson, Capital, December 31 prior year 0 K. Wilson, Capital, December 31 current year $