What is the retained earning

Exercise 3-9 Preparing a classified balance sheet LO C3 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 Totals Debit Credit $ 9,500 12,500 6,820 192,000 $ 39,552 44,000 13,500 19,000 34,000 18,000 171,099 44,000 121,000 25,511 58, 156 13,000 10,664 $416,151 $416,151 Use the above adjusted trial balance to prepare Wilson Trucking Company's classified balance sheet as of December 31, 2017 WILSON TRUCKING COMPANY Balance Sheet December 31, 2017 Assets Current assets Cash $ 9,500 WILSON TRUCKING COMPANY Balance Sheet December 31, 2017 Assets $ 9,500 Current assets Cash Accounts receivable Office supplies 12,500 6,820 $ 28,820 192,000 39,552 Total current assets Plant assets Trucks $ Accumulated depreciation-Trucks Land Total plant assets Total assets Liabilities Current liabilities Accounts payable Interest payable 152,448 44,000 196,448 225,268 $ $ 13,500 19,000 Total current liabilities 32,500 Laila 44, VUU Total plant assets Total assets 196,448 $ 225,268 Liabilities Current liabilities Accounts payable Interest payable $ 13,500 19,000 Total current liabilities 32,500 Long-term liabilities Long-term notes payable 34,000 Total liabilities 66,500 Equity Common stock Retained earnings 18,000 Total equity Total liabilities and equity $ 188,268 254,768 $