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 $ 7,000 16,500 2,000 184,000 $ 37,904 75,000 11,000 3,000 52,000 33,632 137,500 19,000 142,500 24,448 66,833 10,500 12, 255 $417,536 $417,536 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