Chapter 3 Assessment i Saved Help Save The following adjusted year-end trial balance at December 31 of Wilson Trucking Company. Credit Debit $ 5,300 16,500 2,000 193,000 $ 39,758 75,000 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 9.300 3,000 52,000 42.253 136,500 19,000 138,500 25,644 64,956 8,000 11,911 $421.311 Totals $421.311 The Retained Earnings account balance was $136,500 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. 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 fees earned $ 138,500 $ Expenses Salaries expense Office supplies expense Repairs expense-Trucks Depreciation expense-Trucks 64,956 8,000 11,911 25,644 Total expenses 110,511 27,989 $