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Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Incorporated) on January 1. 2020. The annual reporting period ends December

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Alison and Chuck Renny began operations of their furniture repair shop (Lazy Sofa Furniture, Incorporated) on January 1. 2020. The annual reporting period ends December 31 . The trial balance on January 1,2021 , follows (amounts are rounded to thousands of dollars to simplify) Transactions during 2021 (summarized in thousands of dollars) follow: a. Borrowed $18 cash on July 1, 2021, signing a six-month note payable. b. Purchased equipment for $21 cash on July 2 . c. Issued additional shares of common stock on July 3 for $4. d. Purchased additional equipment on August 4,$4 cash. e. Purchased, on account, supplies on September 5 for future use, $9. f. On December 6 , recorded revenues in the amont of $61, including $8 on credit and $53 received in cash. 9. Paid salaries and wages expenses on December 7,$22. h. Collected accounts receivable on December 8,$7. 1. Paid accounts payable on December 9,$10. f. Recelved a $5 deposit on December 10 for work to start January 15, 2022. Data for adjusting journal entries on December 31 : k. Amortization for 2021, $5. 1. Supplies of $5 were counted on December 31,2021 . m. Depreciation for 2021,$1. n. Accrued interest on notes payable of $3. o. Salaries and wages earned but not yet paid, $2. p. Income tax for 2021 was $6 and will be paid in 2022 . Required: 8. Prepare a post-closing trial balance. (Enter your answers in thousands of dollars.) Required: 9-a. How much net income did Lazy Sofa Furniture, Incorporated, generate during 2021? 9-b. Is the company financed primarily by liabilities or stockholders' equity

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