Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] The following adjusted trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Land Debit $ 8,000 Credit 17,500 3,000 172,000 Accumulated depreciation-Trucks $ 36,000 85,000 Accounts payable 12,000 Interest payable 4,000 Long-term notes payable 58,000 K. Wilson, Capital 170,000 K. Wilson, Withdrawals 20,000 Trucking revenue Salaries expense 130,000 Depreciation expense-Trucks 23,500 61,000 Office supplies expense 8,000 Interest expense Totals 12,000 $ 410,000 $ 410,000 Exercise 4-10 (Static) Preparing an income statement & statement of owner's equity LO C1 The K. Wilson, Capital account balance was $170,000 at December 31 of the prior year, and there were no owner investments during the year. (1) Prepare the income statement for the year ended December 31. (2) Prepare the statement of owner's equity for the year ended December 31. Answer is not complete. 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. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Trucking revenue $ 130,000 Expenses Depreciation expense-Trucks $ 23,500 Salaries expense 61,000 Office supplies expense Interest expense 8,000 12,000 Total expenses 104,500 $ 25,500