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:
Overhead Applied
The allocation of estimated overhead costs to specific jobs or departments based on a predetermined rate or formula.
Assembly Department
A section of a manufacturing facility where components are put together to form final products.
Total Job Cost
The complete cost of a specific job or project, including materials, labor, and overhead costs, calculated for cost tracking and pricing.
Total Job Cost
The sum of all expenses directly associated with the production of a specific job, including materials, labor, and overhead costs.
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