Using the information given below, prepare an income statement and statement of retained earnings for Rapid Car Services, Inc. from the adjusted trial balance. The stockholders did not make any additional investments in the company during the year. 
Definitions:
Taxes
Mandatory financial charges or levies imposed by a government on individuals and organizations to fund public expenditures.
Profitability Index
A financial tool that calculates the relative profitability of an investment by dividing the present value of future cash flows by the initial investment cost.
Initial Investment
The initial amount of money invested in a project or business venture.
CCA Rate
Refers to Capital Cost Allowance rate, which is the rate at which a business can claim tax depreciation on certain properties or equipment in Canada.
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