10. 10.00 points E4-21 Reporting an Income Statement, Statement of Stockholders Equity, and Balance Sheet L04-2 Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. UNADJUSTED Debit Credit 25 22 17 84 18 Account Titles Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (3,000 shares) Additional paid-in capital Retained earnings Revenues not detailed) Expenses (not detailed) Totals 3 64 16 111 32 196 196 Other data not yet recorded at December 31 include: a. Insurance expired during the current year, $13. b. Wages payable, $16. c. Depreciation expense for the current year, $18. d. Income tax expense, $10. Required: 1. Using the adjusted balances, prepare an income statement for the current year. (Enter your answers in thousands. Round "Earnings per share" to 2 decimal places.) GREEN VALLEY COMPANY Income Statement For the Year Ended December 31 111 (in thousands of dollars) Revenues (not detailed) Expenses Pretax income 79 32 Income tax expense 10 Net income 22 Earnings per share $ 5.33