Required 1 Required 2 Required 3 Using the adjusted balances, prepare balance sheet for the current year. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) GREEN VALLEY COMPANY Balance Sheet At December 31 (In thousands of dollars) Assets Current assets: Cash $ 20 Accounts receivable 13 Prepaid insurance 2 35 1 85 Total current assets Prepaid insurance Machinery Accumulated depreciation Net machinery Total assets Liabilities and stockholders' equity Current Liabilities: 86 121 $ 86 $ 121 Net machinery Total assets Liabilities and stockholders' equity Current Liabilities: Accounts payable Wages payable Income taxes payable $ 11 4 7 Total current liabilities 22 Stockholders' equity Common stock 4 67 18 Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 89 $ 111 Chapter 4 - Homework 6 Saved Help Save & El Submit Practice You received partiat credit in the previous attempt 6 2.85 2 View previous attempt Check my work Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simply the case, the amounts given are in thousands of dollars URADJUSTED Account Title Debit Credit Cash 20 Accounts receivable 13 Prepaid insurance Machinery 85 Memulated depreciation Accounts payable 11 Wage payable Income taxes payable Common stock (4,000 shares) Additional paid.in capital Retained earning Revenues not detailed Expenses (not detailed) Total 164 11 07 Refren B2 Other data not yet recorded at December 31 include 189 2. Insurance expired during the current year, $6. b. Wages payable, $4 Depreciation expense for the current year $9. d. Income tax expense, $7. D Required: MC Grow HII B 26