The following is the adjusted trial balance of Wilson Trucking Company.

Account Title	Debit			Credit
Cash	$	5,500
Accounts receivable		16,500
Office supplies		2,000
Trucks		192,000
Accumulated depreciationTrucks				$	39,552
Land		75,000
Accounts payable					9,500
Interest payable					3,000
Long-term notes payable					52,000
Common stock					17,000
Retained earnings					155,822
Dividends		19,000
Trucking fees earned					147,500
Depreciation expenseTrucks		25,511
Salaries expense		69,178
Office supplies expense		7,000
Repairs expenseTrucks		12,685
Totals	$	424,374		$	424,374

The Retained Earnings account balance is $155,822 at December 31, 2016. (1) Prepare the income statement for the year ended December 31, 2017. (2) Prepare the statement of retained earnings for the year ended December 31, 2017.