The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Cash Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable Common stock Retained earnings Dividends Trucking fees earned Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense-Trucks Totals Debit Credit $ 5,200 16,500 2,000 170,000 $ 35,020 75,800 9,280 3,000 52,000 14,043 137,500 19, eee 145,000 22,588 68,805 5,000 12,478 $395,763 $395,763 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the statement of retained earnings for the vear ended December 31. Prey 12 Next > TOLOS $395,763 $395,763 18 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 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 0 Retained earnings, December 31 current year $ 0