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.

Other data not yet recorded at December $31$ include

a$.$ Insurance expired during the current year, $$14.$

b$.$ Wages payable, $$14.$

c$.$ Depreciation expense for the current year, $$16.$

d$.$ Income tax expense, $$13.$ Using the adjusted balances, prepare the closing entry for the current year.