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The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,600 Accounts receivable 16,500 Office supplies
The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Account Title Debit Credit Cash $ 6,600 Accounts receivable 16,500 Office supplies 2,000 Trucks 192,000 Accumulated depreciation-Trucks $ 37, 492 Land 75,000 Accounts payable 10,600 Interest payable 3,000 Long-term notes payable 52,000 Common stock 29,663 Retained earnings 136,500 Dividends 19,000 Trucking fees earned 149,500 Depreciation expense-Trucks 24,182 Salaries expense 70,116 Office supplies expense 10,500 Repairs expense Trucks 12,857 Totals $418,755 $418,755 The Retained Earnings account balance was $136,500 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 income statement for the year ended December 31. WILSON TRUCKING COMPANY Income Statement For Year Ended December 31 Revenues Expenses Total expenses 0 $ 0 Required Required 2 > 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 Retained earnings, December 31 current year $ 0
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