Do not give image format Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplifythe case, the amounts given are in thousands of dollars.Account TitlesCashAccounts receivablePrepaid insuranceMachineryAccumulated depreciation.Accounts payableWages payableIncome taxes payableCommon stock (6,000 shares)Additional paid-in capitalRetained earningsRevenues (not detailed)Expenses (not detailed)TotalsUNADJUSTEDDebit1512227474622136Other data not yet recorded at December 31 includea. Insurance expired during the current year, $4.b. Wages payable, $6.c. Depreciation expense for the current year, $8.d. Income tax expense, $9.Credit65468136Required:1. Using the adjusted balances, prepare an income statement for the current year.2. Using the adjusted balances, prepare statement of stockholders' equity for the current year. The balance in retained earningsrepresents dividends that were declared and paid in the current year.3. Using the adjusted balances, prepare balance sheet for the current year. Required 1 Required 2 Required 31Using the adjusted balances, prepare an income statement for the current year.Note: Enter your answers in thousands. Round "Earnings per share" to 2 decimal places.GREEN VALLEY COMPANYIncome StatementFor the Current Year Ended December 31(in thousands of dollars)Revenues (not detailed)ExpensesPretax incomeIncome tax expenseNet incomeEarnings per share6840289199.50 x< Required 1Required 2 >

Name: Do not give image format Green Valley Company prepared the following t
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Do not give image format Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplifythe case, the amounts given are in thousands of dollars.Account TitlesCashAccounts receivable