Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, Inc.) on January 1, 2016. The annual reporting period ends December 31. The trial balance on January 1, 2018, follows the amounts are rounded to thousands of dollars to simplify): Debit Credit 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 Earnings Service Revenue Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals $99 $99 Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $13 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $7. c. Issued additional shares of common stock on April 3 for $25. d. Purchased software on July 4, $12 cash. e. Purchased supplies on account on October 5 for future use, $17. f. Paid accounts payable on November 6, $14. g. Signed a $30 service contract on November 7 to start February 1, 2019 h. Recorded revenues of $164 on December 8, including $42 on credit and $122 collected in cash. 1. Recognized salaries and wages expense on December 9, $87 paid in cash. J. Collected accounts receivable on December 10, $26. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $7. 1. Supplies counted on December 31, 2018, $11. m. Depreciation for the year on the equipment, $7. n. Interest of $2 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $11. p. Income tax for the year was $9. It will be paid in 2019. 8. Post the closing entry from requirement 7 and prepare a post-closing trial balance. (Enter your answers in thousands of dollars.) H & H TOOL, INC. Post-Closing Trial Balance Debit Credit (in thousands) 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 Earnings Dividends Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Amortization Expense Interest Expense Income Tax Expense Totals $ 0 $ Complete this question by entering your answers in the tabs below. Reg 6A Reg 6B Rea 6C Prepare an income statement. (Enter your answers in thousands of dollars.) H&H TOOL, INC. Income Statement For the Year Ended December 31, 2018 in thousands) Req6A Req6B > Reg 6A Reg 68 Rea 6C Prepare the statement of retained earnings. (Enter your answers in thousands of dollars.) H&H TOOL, INC. Statement of Retained Earnings (in thousands) Balance, January 1, 2018 Balance, December 31, 2018 $ 0 Reg 6A Reg 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, INC. Balance Sheet (in thousands) 0 9-a. How much net income did H & H Tool, Inc., generate during 2018? What was its net profit margin? 9-b. Is the company financed primarily by liabilities or stockholders' equity? 9-c. What is its current ratio? Complete this question by entering your answers in the tabs below. Reg 9A Req 9B Reg 9C How much net income did H & H Tool, Inc., generate during 2018? What was its net profit margin? (Enter "Net Income" in thousands of dollars. Round "Net Profit Margin" to 1 decimal place.) Net Income Net Profit Margin Req9A Req9B > Complete this question by entering your answers in the tabs below. Req 9A Reg 9B Reg 9C Is the company financed primarily by liabilities or stockholders' equity? Stockholders' Equity O Liabilities DOGOA Dogoc Complete this question by entering your answers in the tabs below. Reg 9A Reg 9B Reg 9C What is its current ratio? (Enter your answers in thousands of dollars.) Current Ratio Numerator Denominator