Use the following adjusted trial balance of Wilson Trucking Company to prepare the
(1) Income statement and
(2) Statement of retained earnings for the year ended December 31, 2016. The Retained Earnings account balance is $155,000 at December 31, 2015.

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Account Title Debit Credit Accounts recelvable. Office supplies Trucks Accumulated depreclation-Trucks $ 8,000 7,500 3,000 72,000 $36,000 85,000 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 12,000 4,000 53,000 20,000 155,000 20,000 30,000 23,500 8,000 2,000 $410,000 $410,000