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, $$13.$

b$.$ Wages payable, $$16.$

c$.$ Depreciation expense for the current year, $$18.$

d$.$ Income tax expense, $$6.$

Required:

Using the adjusted balances, prepare an income statement for the current year.

Using the adjusted balances, prepare statement of stockholders' equity for the current year. The balance in retained earnings

represents dividends that were declared and paid in the current year.

Using the adjusted balances, prepare balance sheet for the current year.

Complete this question by entering your answers in the tabs below.

Using 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 COMPANY

Income Statement

For the Current Year Ended December $31$

$($in thousands of dollars$)$