need gelp with income statement and statement of retained earnings
Exercise 3-7 Preparing financial statements LO P3 The following is the adjusted trial balance of Wilson Trucking Company Debit 5,000 16,500 Credit Account Title Cash Accounts receivable Office supplies 2.000 152,000 Trucks Accumulated depreciation-Trucks Land $ 31,312 75,000 9,000 3,000 52,000 19,000 139,767 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 19,000 111,500 20,196 52,294 14,000 9,589 ces $365,579 $365,579 Totals The Retained Earnings account balance is $139,767 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 The Retained Earnings account balance is $139,767 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 2 Required 1 Prepare the income statement for the year ended December 31, 2017. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31, 2017 Revenues Expenses C Total expenses Required 2 The Retained Earnings account balance is $139,767 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 Prepare the statement of retained earnings for the year ended December 31, 2017. WILSON TRUCKING COMPANY Statement of Retained Earnings For Year Ended December 31, 2017 Retained earnings, December 31, 2016 Retained earnings, December 31, 2017 $ Required 1