The following is the adjusted trial balance of Wilson Trucking Company.

The following is the adjusted trial balance of Wilson Trucking Company.

Account Title	Debit			Credit
Cash	$	9,200
Accounts receivable		16,500
Office supplies		2,000
Trucks		197,000
Accumulated depreciation—Trucks				$	40,582
Land		75,000
Accounts payable					13,200
Interest payable					3,000
Long-term notes payable					52,000
Common stock					17,000
Retained earnings					169,301
Dividends		19,000
Trucking fees earned					126,500
Depreciation expense—Trucks		26,175
Salaries expense		59,329
Office supplies expense		6,500
Repairs expense—Trucks		10,879
Totals	$	421,583		$	421,583

The Retained Earnings account balance is $169,301 at December 31, 2016.
(1) Prepare the income statement for the year ended December 31, 2017.
(2) Prepare the statement of retained earnings for the year ended December 31, 2017.

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