Problem 2. (9 Points).

Using the information given below, prepare an income statement and statement of retained earnings for Rapid Car Services from the adjusted trial balance.

Rapid Car Services Adjusted Trial Balance For the year ended December 31
Cash .	$33,000
Accounts receivable .	14,200
Office supplies .	1,700
Vehicles ..	100,000
Accumulated depreciation Vehicles		45,000
Accounts payable		11,500
Common stock ..		20,000
Retained earnings ..		51,900
Dividends ...	40,000
Fees earned ..		155,000
Rent expense ...	13,000
Office supplies expense ...	2,000
Utilities expense ..	2,500
Depreciation Expense Vehicles..	15,000
Salary expense .	50,000
Fuel expense Totals	12,000 $283,400	________ $283,400