3. Complete the trial balance adjustments and adjusted columns. (For revenues and expenses enter the total amount of adjustments in the adjustment column. Enter your answers in thousands of dollars.) Answer is not complete. CAYUGA LTD. Trial Balance As at December 31 (in thousands of dollars) Unadjusted Adjustments Adjusted Debit Credit Debit Credit Debit Credit $ 56 $ 56 56 27 27 9 7 2 140 140 $ 14 7 $ 21 27 27 Account Titles Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Contributed capital Retained earnings (deficit) Revenues (not detailed) Expenses (not detailed) Totals 10 10 27 119 OOOOO 27 119 7 7 129 129 50 $ 289 $ 289 0 51 $ 232 $ 333 4-a. Using the adjusted balances, prepare a statement of earnings. (Enter your answers in thousands of dollars. Round "Earnings per share" to 2 decimal places.) X Answer is not complete. CAYUGA LTD Statement of Earnings For the Year Ended December 31 (In thousands of dollars, except for Earnings per Share) Revenues $ 129 Earnings before income tax Net earnings $ 78 Earnings per share 4-b. Using the adjusted balances, prepare a statement of changes in equity. (Enter your answers in thousands of dollars. Negative answers should be indicated by minus sign.) Answer is not complete. CAYUGA LTD. Statement of Retained Earnings For the Year Ended December 31 (in thousands of dollars) Balance, January 1 Balance, December 31 $ 0 4-c. Using the adjusted balances, prepare a statement of financial position. (Enter your answers in thousands of dollars. Amounts to be deducted should be indicated with a minus sign.) Answer is not complete. CAYUGA LTD. Statement of Financial Position As at December 31 (In thousands of dollars) Assets 0 Total assets $ 0 Liabilities 0 Total liabilities Shareholders' Equity 0 0 Total liabilities and shareholders' equity 5. This part of the question is not part of your Connect assignment. 6. Using the adjusted balances, prepare the closing entries for the year. (Enter your answers in thousands of dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) X Answer is not complete. No Transaction General Journal Debit Credit