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 Account Titles Debit Credit Cash 11 Accounts receivable 8 Prepaid insurance 3 Machinery 70 Accumulated depreciation Accounts payable 4 Wages payable Income taxes payable Common stock (3,000 shares) 3 Additional paid-in capital 50 Retained earnings 2 Revenues (not detailed) 55 Expenses (not detailed) 18 Totals 112 112 Other data not yet recorded at December 31 include: a. Insurance expired during the current year, $2. b. Wages payable, $2. c. Depreciation expense for the current year. $4. d. Income tax expense, $5. Required: 1. Using the adjusted balances, prepare an income statement for the current year. (Enter your answers in thousands. Round "Earnings pe share" to 2 decimal places.) Other data not yet recorded at December 31 include: a. Insurance expired during the current year, $2. b. Wages payable, $2. c. Depreciation expense for the current year, $4. d. Income tax expense, $5. 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.) Answer is not complete. GREEN VALLEY COMPANY Income Statement For the Year Ended December 31 (in thousands of dollars) Revenues (not detailed) Expenses Pretax income 55 55 Income tax expense 5 Net income 50 Earnings per share 6.33 the current year, $2. b. Wages payable, $2. c. Depreciation expense for the current year. $4. d. Income tax expense, $5. Required: 1. Using the adjusted balances, prepare an income statement for the current year. (Enter your answers in thousands. Rou share" to 2 decimal places.) GREEN VALLEY COMPANY Income Statement For the Year Ended December 31 (in thousands of dollars) Revenues (not detailed) $ Expenses Pretax income 55 + 55 Income tax expense 5 Net income $ 50 Earnings per share $ 6.33