The following adjusted trial balance at December $31$ of Wilson Trucking Company.

Exercise $3-21($Algo$)$ Preparing an income statement & statement of retained earnings LO C$2$

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 $31.$

Complete this question by entering your answers in the tabs below.

Prepare the income statement for the year ended December $31.$