[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 Accumulated depreciation-Trucks Land Accounts payable Debit $ 8,000 17,500 3,000 Credit 172,000 $ 36,000 85,000 12,000 Interest payable 4,000 Long-term notes payable 58,000 K. Wilson, Capital 170,000 K. Wilson, Withdrawals 20,000 Trucking revenue Depreciation expense-Trucks Salaries expense 130,000 23,500 61,000 Office supplies expense Interest expense Totals 8,000 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. 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 Expenses Depreciation expense-Trucks $ 23,500 Salaries expense 61,000 Office supplies expense 8,000 Interest expense 12,000 Total expenses $ 130,000 $ 104,500 25,500 < Required 1 Required 2 >