Required information Use the following information for Exercises 17-18 below. (Algo) [The following information applies to the questions displayed below.) The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Cash Credit $ 10,000 Accounts receivable 16,500 Office supplies 2,000 Trucks 176,000 Accumulated depreciation-Trucks $ 36,256 Land 75,000 Accounts payable 14,000 Interest payable 3,000 Long-term notes payable 52,000 Common stock 24,882 Retained earnings 137,500 Dividends 19,000 Trucking revenue 145,500 Depreciation expense--Trucks 23,385 Salaries expense 68,240 Office supplies expense 10,500 Repairs expense-Trucks 12,513 Totals $413, 138 $413,138 Exercise 3-17 (Algo) Preparing financial statements from an adjusted trial balance LO P5 3 Required information The Retained Earnings account balance was $137,500 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. Part 1 of 2 pints Complete this question by entering your answers in the tabs below. Skipped Required 1 Required 2 eBook Hint Print Prepare the income statement for the year ended December 31. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31 References Revenues Cash 10,000 Expenses Graw Required information Prepare the income statement for the year ended December 31. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Cash $ 10,000 Expenses es st 0 Total expenses 10,000 Rocuired 1 Required 2 > Required information (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of retained earnings for the year ended December 31. 2 Complete this question by entering your answers in the tabs below. d 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 es 0 Retained earnings, December 31 current year $ 0