Account Titles Debit Credit Cash $3 Accounts Receivable 5 Supplies 12 Land 0 Equipment 55 Accumulated Depreciation $6 Software 19 Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable 5 0 0 0 0 Common Stock 70 Retained Earnings 8 Service Revenue 0 Salaries and Wages Expense 0 Depreciation Expense 0 Amortization Expense 0 Income Tax Expense 0 Interest Expense 0 0 $94 $94 Supplies Expense Totals Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $9. c. Issued additional shares of common stock on April 3 for $29. d. Purchased software on July 4, S10 cash. e. Purchased supplies on account on October 5 for future use, $18. Paid accounts payable on November 6, $13. g. Signed a $25 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $150 on December 8, including $35 on credit and $115 collected in cash. i. Recognized salaries and wages expense on December 9, $80 paid in cash. j. Collected accounts receivable on December 10, $19. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $5. 1. Supplies counted on December 31, 2021, $10. m. Depreciation for the year on the equipment, $6. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $12. p. Income tax for the year was $8. It will be paid in 2022. 1. How much net income was generated? What's the profit margin? 2. Is the company financed primarily by liabilities or stock holder equity? 3. What is the current ratio