1 Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash $ 6 Accounts Receivable 2 Supplies 2 Equipment 8 Accumulated Depreciation $1 Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense Totals $24 e $24 Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $32 cash on July 1, 2018, signing a six-month note payable. Prov 1 of 1 Next O here to search Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $32 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for $35 cash on July 2, 2018. c. Issued additional shares of common stock for $6 on July 3. d. Purchased software on July 4, $2 cash. e. Purchased supplies on July 5 on account for future use. $8. f. Recorded revenues on December 6 of $66, including $9 on credit and $57 received in cash. g. Recognized salaries and wages expense on December 7 of $40; paid in cash. h. Collected accounts receivable on December 8, $8. i. Paid accounts payable on December 9. $9. j. Received a $2 cash deposit on December 10 from a hospital for a contract to start January 5, 2019. Data for adjusting journal entries on December 31: k. Amortization for 2018. $1. 1. Supplies of $2 were counted on December 31, 2018. m. Depreciation for 2018. $3. n. Accrued interest of $1 on notes payable. o. Salaries and wages incurred but not yet paid or recorded, $4. p. Income tax expense for 2018 was $3 and will be paid in 2019. (Enter all of your answers in thousands of dollars. (i.e., $100,000 should be entered as $100).) Requirement General Journal General Ledger Trial Balance Income Statement Statement of Retained Earnings Balance Sheet Analysis Journal entry worksheet Journal entry worksheet Purchased equipment for $35 cash on July 2, 2018. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Jul 02, 2018 Record entry Clear entry View general journal Journal entry worksheet Journal entry worksheet Journal entry worksheet 2 3 4 5 7 ..... 17 Recorded revenues on December 6 of $66, including $9 on credit and $57 received in cash. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date Dec 06, 2018 Record entry Clear entry View general journal Journal entry worksheet Collected accounts receivable on December 8, $8. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Dec 08, 2018 Record entry Clear entry View general journal Requirement General Ledger > Journal entry worksheet entry worksheet entry worksheet Journal entry worksheet Journal entry worksheet Prey 1 of 1 Next > *** Choose the appropriate accounts to be reported on the income statement. Select the 'adjusted' from the dropdown, which will then populate the balances in those accounts from the trial balance. Unadjusted NORTHLAND PHYSICAL THERAPY Income Statement For the Year Ended December 31, 2018 (in thousands) A Statement of Retained Earnings > Prey 1 of 1 Next CE to search o te E General General Income Statement of Requirement Trial Balance Journal Statement Retained Ledger Balance Sheet Analysis Earnings Use the dropdowns to select the accounts properly included on the classified balance sheet. The unadjusted, adjusted, or post-dosing balances will appear each account, based on your selection. Unadjusted NORTHLAND PHYSICAL THERAPY Balance Sheet At December 31, 2018 (in thousands) Prey 1 of 1 Next RI re e to search as $3 and will be paid in 2019. (Enter all of your answers in thousands of dollars. (i.e., $100,000 should be entered as $100).) General General Requirement Statement of Income Journal Ledger Trial Balance Retained Statement Balance Sheet Analysis Earnings Calculate the Net Pofit Margin and Current Ratio. Net income can be found on Income statement tab. (Hint: Select Adjusted on the dropdown.) to: Dec 10, 2018 Unadjusted Dates: Jan 01, 2015 How much net income did Northland Physical Therapy, Inc., generate during 2018? What was its net profit margin? (Round "Net Profit Margin" to 1 decimal place.) Net Income Net Profit Margin % Is the company financed primarily by liabilities or stockholders' equity? What is the current ratio? (Round your answer to 2 decimal places.) Current Ratio