Brothers Harry and Herman Hausyerday began operations of thelr machine shop (H \& H Tool, Incorporated) on January 1. 2020. The annual reporting period ends December 31. The trlal balance on January 1, 2021, follows (the amounts are rounded to thousands of dollars to simplify): Transactions and events during 2021 (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 bullding 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. Pald accounts payable on November 6, \$14. g. Signed a $30 service contract on November 7 to start February 1, 2022 h. Recorded revenues of $158 on December 8 , including $39 on credit and $119 collected in cash. l. Recognized salarles and wages expense on December 9,$84 pald In cash. f. Collected accounts recelvable on December 10,$23. Data for adjustling Journal entrles as of December 31: k. Unrecorded amortization for the year on software, \$6. L. Supplies counted on December 31, 2021, \$11. m. Depreclation for the year on the equipment, $7. n. Interest of $2 to accrue on notes payable. o. Salarles and wages earned but not yet paid or recorded, $12 p. Income tax for the year was $9. It will be pald in 2022 equired: a. How much net Income did H \& H Tool, Incorporated, generate during 2021? What was its net profit margin? b. Is the company financed primarlly by liabilitles or stockholders' equity? c. What is its current ratio? Complete this question by entering your answers in the tabs below. Is the company financed primarily by liabilities or stockholders' equity? Brothers Harry and Herman Hausyerday began operations of thelr machine shop (H&H Tool, Incorporated) on January 1. 2020. The annual reporting period ends December 31. The trlal balance on January 1, 2021, follows (the amounts are rounded to thousands of dollars to simplify): Transactions and events during 2021 (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 bullding slte; pald 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. Pald accounts payable on November 6, \$14. g. Signed a $30 service contract on November 7 to start February 1, 2022 h. Recorded revenues of $158 on December 8 , including $39 on credit and $119 collected in cash. l. Recognized salarles and wages expense on December 9,$84 pald In cash. f. Collected accounts recelvable on December 10,$23. Data for adjustling Journal entrles as of December 31: k. Unrecorded amortization for the year on software, \$6. L. Supplies counted on December 31, 2021, \$11. m. Depreclation for the year on the equipment, $7. n. Interest of $2 to accrue on notes payable. o. Salarles and wages earned but not yet pald or recorded, $12 p. Income tax for the year was $9. It will be paid in 2022 Required: 9-a. How much net Income did H \& H Tool, Incorporated, generate during 2021? What was its net profit margin? 9-b. Is the company financed primarly by llabilities or stockholders' equity? 9-c. What is its current ratio? Complete this question by entering your answers in the tabs below. What is its current ratio? (Enter your answers in thousands of dollars.) [The following information applies to the questions displayed below.] Brothers Harry and Herman Hausyerday began operations of thelr machine shop ( H \& H Tool, Incorporated) on January 1 . 2020. The annual reporting perlod ends December 31. The trlal balance on January 1, 2021, follows (the amounts are rounded to thousands of dollars to simplify): Transactlons and events durling 2021 (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 bullding 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 Pald accounts payable on November 6.$14. g. Signed a $30 service contract on November 7 to start February 1, 2022 h. Recorded revenues of $158 on December 8 , Including $39 on credlt and $119 collected in cash. L Recognized salarles and wages expense on December 9,$84 pald In cash. j. Collected accounts recelvable on December 10,$23. Data for adjusting Journal entrles as of December 31: k. Unrecorded amortization for the year on software, \$6. L. Supplies counted on December 31, 2021, \$11. m. Depreclation for the year on the equipment, $7. n. Interest of $2 to accrue on notes payable. o. Salarles and wages earned but not yet pald or recorded, $12 p. Income tax for the year was $9. It will be pald In 2022. Required: 8. Prepare a post-closing trlal balance. (Enter your answers in thousands of dollars.) Required information [The following information applies to the questions displayed below.] Brothers Harry and Herman Hausyerday began operations of thelr machine shop ( H&H Tool, Incorporated) on January 1 . 2020. The annual reporting period ends December 31. The trlal balance on January 1, 2021, follows (the amounts are rounded to thousands of dollars to simplify): Transactions and events during 2021 (summarlzed 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 bullding 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. Pald accounts payable on November 6, \$14. g. Signed a $30 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $158 on December 8 , including $39 on credit and $119 collected in cash. l. Recognized salarles and wages expense on December 9, \$84 pald In cash. j. Collected accounts recelvable on December 10,$23. Data for adjustlng Journal entrles as of December 31: k. Unrecorded amortlzation for the year on software, \$6. L. Supplies counted on December 31, 2021, \$11. m. Depreclation for the year on the equipment, $7. n. Interest of $2 to accrue on notes payable. o. Salarles and wages earned but not yet paid or recorded, $12 p. Income tax for the year was $9. It will be pald in 2022 Required: 9-a. How much net Income did H \& H Tool, Incorporated, generate during 2021? What was its net profit margin? 9-b. Is the company financed primarly by llabilitles or stockholders' equity? 9-c. What is its current ratlo? Complete this question by entering your answers in the tabs below. 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.)