Use the following adjusted trial balance of Resource Trucking Company to prepare the

(1) Income statement,

(2) Statement of retained earnings, for the year ended December 31, 2011.

Transcribed Image Text:

Account Title Debit Credit Accounts receivable .. Office supplies. Trucks $ 5,800 17,500 3,000 56,000 $ 32,136 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 85,000 9,800 4,000 53,000 86,90 75,000 20,000 121,000 20,727 56,749 6,655 10,406 $381,837 $381,837