6-o. Prepare an income statement. 6-b. Prepare the statement of retained earnings. 6-c. Prepare the balance sheet. Complete this question by entering your answers in the tabs below. Req6A Reg 6B Req 6C Prepare an income statement. (Enter your answers in thousands of dollars.) H&H TOOL, INCORPORATED Income Statement 7 a in thousands) 6-0. Prepare an income statement 6-b. Prepare the statement of retained earnings 6-c. Prepare the balance sheet. Complete this question by entering your answers in the tabs below. Reg 6A Req 6B Reg 6C Prepare the statement of retained earnings. (Enter your answers in thousands of dollars.) H&H TOOL, INCORPORATED Statement of Retained Eamings (in thousands) Balance, January 1, 2021 Balance, December 31, 2021 Complete this question by entering your answers in the tabs below. Req 6A Req 6B Reg 6C Prepare the balance sheet. (Enter your answers in thousands of dollars. Amounts to be deducted should be indicated by a minus sign.) H&H TOOL, INCORPORATED Balance Sheet (in thousands) Equipment 0 Software 0 $ 0 Brothers Harry and Herman Hausyerday began operations of their machine shop (H&H loot, Incorporated) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1 2021, follows the amounts are rounded to thousands of dollars to simplify Credit Debit 54 4 11 0 56 52 17 4 6 Account Titles Cash Accounts Receivable Supplies Land Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Common stock Retained Earings Service Revenue Salaries and ages Expense Depreciation Expense Antitation Expense Incone Tax Expense Interest Expense Supplies Expanse Totals 0 0 0 5.92 $92 Transactions and events during 2021 (summanized in thousands of dollars) follow a Borrowed 513 cash on March 1 using a short-term note Purchased land on March 2 for future building site: paid cash 57 Issued additional shares of common stock on Apnt 3 for $28 d Purchased software on July 4, 512 cash e Purchased supplies on account on October 5. for future use. 517 Paid accounts payable on November 6. $14 Signed a $30 service contract on November 7 to start February 1, 2022 h Recorded revenues of $152 on December 8, including $36 on credit and 5116 collected in cash Recognized salaries and wages expertise on December 9, $81 paid in cash Collected accounts receivable on December 10, 520 Data for adjusting journal entries as of December 31 k Unrecorded amortization for the year on software. 54 Supplies counted on December 31, 2021. 511 m. Depreciation for the year on the equipment, 57 n Interest of $2 to accrue on notes payable Salaries and wages eamed but not yet paid or recorded. 513
