Prepare the income statement Nowell would include in its Year 2 annual report. Complete this question by entering your answers in the tabs below. Determine the Retained Earnings account balance at December 31, Year 2. The following selected accounts and account balances were taken from the records of Nowell Company. Except as otherwise indicated, all balances are as of December 31, Year 2, before the closing entries were recorded. Required a. Prepare the income statement Nowell would include in its Year 2 annual report. Which of the following statement(s) is true? (Select All That Apply.) Net income does not include revenue of the current year. Retained earnings does not include current yeat net income, but only the ba Retained earnings not only includes current year net income, but also the ba Retained earnings does not include the balance from previous years, but on Net income only includes revenues and expenses for the current year. Required a. Prepare the income statement Nowell would include in its Year 2 annual report. b. Identify the accounts that should be closed to the Retained Earnings account. c-1. Determine the Retained Earnings account balance at December 31, Year 2. c-2. Which of the following statement(s) is true? Complete this question by entering your answers in the tabs below. Prepare the income statement Nowell would include in its Year 2 annual report. Identify the accounts that should be closed to the Retained Earnings account. (Select All Th