Exercise 4-11 Preparing the financial statements LO C2 The following is the adjusted trial balance of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals Credit $ 6,300 16,500 2,000 171,000 $ 35, 226 75,000 10,300 3,000 52,000 169,593 19,000 124,500 22,721 58,391 13,000 10,707 $394,619 $394,619 The K. Wilson, Capital account balance is $169,593 at December 31, 2016. (1) Prepare the income statement for the year ended December 31, 2017 (2) Prepare the statement of owner's equity for the year ended December 31, 2017 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, 2017. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31, 2017 Revenues Expenses Total expenses Exercise 4-11 Preparing the financial statements LO C2 The following is the adjusted trial balance of Wilson Trucking Company. Credit Debit $ 6,300 16,500 2,000 171,000 $ 35, 226 75,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals 10,300 3,000 52,000 169,593 19,000 124,500 22,721 58,391 13,000 10,707 $394,619 $394,619 The K. Wilson, Capital account balance is $169,593 at December 31, 2016. (1) Prepare the income statement for the year ended December 31, 2017. (2) Prepare the statement of owner's equity for the year ended December 31, 2017. 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, 2017. WILSON TRUCKING COMPANY Statement of Owner's Equity For Year Ended December 31, 2017 K. Wilson, Capital, December 31, 2016 0 K. Wilson, Capital, December 31, 2017 | $