Can anyone explain me the answers I got wrong. Thank you!

Cayuga Ltd. prepared the following trial balance at the end of its first year of operations ending December 31. 2018. To simplify the case, the amounts given are in thousands of dollars. Other data not yet recorded at December 31, 2018, are as follows: Unadjusted Debit Credit 140 Account Titles Cash Accounts receivable Prepaid insurance Machinery (20-year life, no residual value) Accumulated depreciation Accounts payable Wages payable Income taxes payable Contributed capital (7,000 shares) Retained earnings (deficit) Revenues (not detailed) Expenses (not detailed) Totals 259 a. Insurance expired during 2018. $7. b. Depreciation expense for 2018, S7 c. Wages payable, $8. d. Income tax expense, S17 Required: 1. Prepare the adjusting entries for 2018. (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.) Answer is complete and correct. No Transaction General Journal Insurance expense Debit Credit Prepaid insurance Depreciation expense Accumulated depreciation machinery Required: 1. Prepare the adjusting entries for 2018. (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.) Answer is complete and correct. No Transaction General Journal Debit Credit Insurance expense Prepaid insurance b. Depreciation expense Accumulated depreciation, machinery Wages expense Wages payable d Income tax expense Income tax payable 2. Show the effects of the adjusting entries on net earnings and cash. (Enter your answers in thousands of dollars. Select "None" if there is no effect.) Answer is complete and correct. Transaction Effect on Cash Effect on Net Earnings Decrease by 7 7 None None Decrease Decrease Decrease by by 8 17 None None 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 complete and correct. CAYUGA LTD. Trial Balance As at December 31, 2018 (in thousands of dollars) Unadjusted Adjustments Debit Credit Debit Credit Adjusted Debit Credit 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) 119 109 109 40 259 Totals 259 4-a. Using the adjusted balances, prepare a statement of earnings. (Enter your answers in thousands of dollars except "Earnings per share" which should be rounded to 2 decimal places.) X Answer is not complete. CAYUGA LTD. Statement of Earnings For the Year Ended December 31, 2018 (In thousands of dollars, except for Earnings per Share information) Revenues 109 Expenses (40) X 39 Net earnings Earnings per share $ $ 30 6.00 4-b. Using the adjusted balances, prepare a statement of changes in equity. (Enter your answers in thousands of dollars. Negative amounts should be indicated by minus sign.) Answer is complete but not entirely correct. CAYUGA LTD. Statement of Retained Earnings For the Year Ended December 31, 2018 (in thousands of dollars) Balance, January 1, 2018 $ Net earnings Dividends declared Balance, December 31, 2018 (7) 30 0 23 4-c. Using the adjusted balances, prepare a statement of financial position. (Enter your answers in thousands of dollars. Negative amounts should be indicated by minus sign.) Answer is complete but not entirely correct. CAYUGA LTD. Statement of Financial Position As at December 31, 2018 (In thousands of dollars) Assets Cash 46 20 140 (21) Accounts receivable Prepaid insurance Machinery, at cost Accumulated depreciation Total assets Liabilities Accounts payable Wages payable Income taxes payable 119 184 $ 17 v Total liabilities Shareholders' Equity Contributed capital Retained earnings Total liabilities and shareholders' equity $ 126 168 5. Not available in Connect 6. Using the adjusted balances, prepare the closing entries for 2018. (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.) Answer is not complete. No Transaction General Journal Credit Debit 109 Revenues Income summary 109 Income summary Expenses Income summary Retained earnings