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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 Credit Account Titles Debit 20 Cash Accounts receivable 13 Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable 85 11 Common stock (4,000 shares) Additional paid-in capital Retained earnings 67 6 Revenues (not detailed) Expenses not detailed) 82 32 164 164 Totals Other data not yet recorded at December 31 include a. Insurance expired during the current year, $6. b. Wages payable, $4 c. Depreciation expense for the current year, $9. d. Income tax expense, $7. Required: 1. Using the adjusted balances, prepare an income statement for the current year. 2. 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. 3. Using the adjusted balances, prepare balance sheet for the current year. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Required 3 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. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) GREEN VALLEY COMPANY Statement of Stockholders' Equity (in thousands of dollars) Additional Paid-in Total Stockholders Equity Retained Common Stock Earnings Capital Beginning balances GREEN VALLEY COMPANY Balance Sheet (in thousands of dollars) Assets Current assets: Total current assets 0 Net machinery 0 $ 0 Total assets Liabilities and stockholders'equity Current Liabilities: Total current liabilities Stockholders' equity Total stockholders' equity 0 Total liabilities and stockholders' equity