Required information [The following information applies to the questions displayed below.] The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Debit $ 9,500 Credit Accounts receivable 19,000 Office supplies Trucks 4,500 187,000 Accumulated depreciation-Trucks $ 37,500 Land 100,000 Accounts payable 16,500 Interest payable 5,500 Long-term notes payable 65,500 Common stock 37,500 Retained earnings 147,500 Dividends 21,500 Trucking revenue 145,000 Depreciation expense-Trucks 25,000 Salaries expense 65,500 Office supplies expense 9,500 Interest expense Totals 13,500 $455,000 $455,000 The Retained Earnings account balance was $147,500 at December 31 of the prior year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of retained earnings for the year ended December 31. 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 0 Required information 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. WILSON TRUCKING COMPANY Statement of Retained Earnings. For Year Ended December 31 Retained earnings, December 31 prior year Retained earnings, December 31 current year $ 0