Record the closing entry for current year

E4-22 (Algo) Recording A Closing Entry L04-4 Green Valley Company prepared the following trial balance at the end of its first UNADJUSTED Debit Credit 14 11 6 73 7 Account Titles Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (5,000 shares) Additional paid-in capital Retained earnings Revenues (not detailed) Expenses (not detailed) Totals 5 53 5 65 21 130 130 Other data not yet recorded at December 31 include a. Insurance expired during the current year, $4. b. Wages payable, $5. c. Depreciation expense for the current year, $7. d. Income tax expense, $8