Brothers Harry and Herman Hausyerday began operations of their machine shop (H & H Tool, 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 $ 3 5 12 66 $6 21 6 5 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 e 8 82 $ 107 $ 107 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, $10 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 $172 on December 8, including $46 on credit and $126 collected in cash. 1. Recognized salaries and wages expense on December 9, $91 paid in cash. j. Collected accounts receivable on December 10, $30. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software. $6. I 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. Cash Credit Accounts Receivable Debit Beginning Balance Debit Beginning Balance Credit Ending Balance Ending Balance Land Supplies Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Equipment Credit Accumulated Depreciation Debit Beginning Balance Debit Beginning Balance Credit Ending Balance Ending Balance Software Credit Accumulated Amortization Debit Beginning Balance Credit Debit Beginning Balance Ending Balance Ending Balance Accounts Payable Credit Debit Beginning Balance Notes Payable (short-term) Debit Credit Beginning Balance Ending Balance Ending Balance Interest Payable Salaries and Wages Payable Debit Credit Beginning Balance Credit Debit Beginning Balance Ending Balance Ending Balance Common Stock Income Tax Payable Dobit Beginning Balance Credit Credit Debit Beginning Balance Ending Balance Ending Balance Retained Earnings Service Revenue Credit Credit Debit Beginning Balance Debit Beginning Balancet Ending Balance Ending Balance Salaries and Wages Expense Dobit Credit Beginning Balance Depreciation Expense Debit Beginning Balance Credit Ending Balance Ending Balance Income Tax Expense Amortization Expense Debit Beginning Balance Credit Credit Debit Beginning Balance Ending Balance 0 Ending Balance Interest Expense Supplies Expense Credit + Debit Beginning Balance Debit Beginning Balance Credit H&H TOOL, INCORPORATED Post-Closing Trial Balance (in thousands) Account Titles Debit Credit 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 Retained Eamings Dividends Service Revenue Salaries and Wages Expense Supplies Expense Depreciation Expense Amortization Expense Interest Expense Income Tax Expense Totals $ 0 $ 0 How much net income did H & H Tool, Incorporated, generate during 2021? 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 % Is the company financed primarily by liabilities or stockholders' equity? Stockholders Equity Liabilities What is its current ratio? (Enter your answers in thousands of dollars.) Current Ratio If Numerator Denominator 3