Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Credit Debit $ 8,000 17,500 3,000 172,000 $ 36,000 85,000 Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings, December 31, 2017 Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense-Trucks Totals 12,000 4,000 53,000 20,000 155,000 20,000 130,000 23,500 61,000 8,000 12,000 $410,000 $410,000 Exercise 3-8 Preparing financial statements LO P3 (1) Prepare the income statement for the year ended December 31, 2018. (2) Prepare the statement of retained earnings for the year ended December 31, 2018. (3) Prepare its balance sheet as of December 31, 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the income statement for the year ended December 31, 2018. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31, 2018 Revenues Expenses Total expenses 0 Required 1 Required 2 > WILSON TRUCKING COMPANY Statement of Retained Earnings For Year Ended December 31, 2018 Retained earnings, December 31, 2017 Retained earnings, December 31, 2018 $ (Required 1 Required 3 > Prepare its balance sheet as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) WILSON TRUCKING COMPANY Balance Sheet December 31, 2018