please answer question 4 a, b, and c and question 6

nes Cayuga Ltd. prepared the following trial balance at the end of its first year of operations ended December 31. To simplify the case, the amounts given are in thousands of dollars. Other data not yet recorded at December 31 are as follows: thadjusted Account Titles Debit Credit Canh $ 50 Accounts receivable 29 Prepaid Insurance 6 Machinery (20-year life, no residual value) 80 Accumulated depreciation 5 Accounts payable 29 Wags payable Income taxes payable Contributed capital (4,000 shares) Katained earnings (dotist) Revenue (not detailed) 124 Tences (not detailed) Total 3229 $229 68 52 a. Insurance expired during the year. $4. b. Depreciation expense for the year, $4 c. Wages payable, $8. d. Income tax expense, $29. Required: 1. Prepare the adjusting entries for the year. (Enter your answers in thousands of dollars. If no ensy is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit 1 Credit a. Insurance expense Prepaid insurance 4 4 2 b Depreciation expense Accumulated depreciation, machinery 4 4 3 c. Wages expense Wages payable 8 8 4 d. Income tax expense Income tax payable 29 29 3. Complete the trial balance adjustments and adjusted columns. (For revenues and expenses ente in the adjustment column. Enter your answers in thousands of dollars.) total amount of adjustments CAYUGA LTD. Trial Balance As at December 31 (in thousands of dollars) Unadjusted Adjustments Debit Credit Debit Credit $ 58 Adjusted Debit Credit $ 58 29 29 6 2 BO 80 $ $ 8 29 12 29 Account Titles Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Contributed capital Retained earnings (deficit) Revenues (not detailed) Expenses (not detailed) Totals 68 68 4 4 124 124 52 $ 229 $ 229 0 8 S 173 $ 233 4-. Using the adjusted balances, prepare a statement of earnings. (Enter your answers in thouse share" to 2 decimal places.) Jollars. Round "Earnings per CAYUGA LTD Statement of Earnings For the Year Ended December 31 (In thousands of dollars, except for Earnings per Share) Revenues $ 124 Earnings before income tax Net earnings Earnings per share 4-6. Using the adjusted balances, prepare a statement of changes in equity. (Enter your answers in thousands of dollars. Negative answers should be indicated by minus sign.) CAYUGA LTD. Statement of Rotained Earnings For the Year Ended December 31 (in thousands of dollars) Balance, January 1 $ (4) Balance, December 31 $ 4-c. Using the adjusted balances, prepare a statement of financial position (Enter your answers in thousands of dollars. Amounts to be deducted should be indicated with a minus sign.) CAYUGA LTD Statement of Financial Position As at December 31 (In thousands of dollars) Assets 0 Total assets $ 0 Liabilities Total liabilities Shareholders' Equity 0 0 Total liabilities and shareholders' equity $ 5. This part of the question is not part of your Connect assignment. 6. Using the adjusted balances, prepare the closing entries for the year. (Enter your answers in thousands of dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction llet View Journal entry worksheet Transaction General Journal No Debit Credit