Brothers Harry and Herman Hausyerday began operations of thier 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):

Transactions and events during 2018 (summarized in thousands of dollars) follow: a. Borrowed $11 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $8. c. Issued additional shares of common stock on April 3 for $24. d. Purchased software on July 4, $11 cash. e. Purchased supplies on account on October 5 for future use, $19. f. Paid accounts payable on November 6, $12. g. Signed a $20 service contract on November 7 to start February 1, 2019. h. Recorded revenues of $180 on December 8, including $50 on credit and $130 collected in cash. i. Recognized salaries and wages expense on December 9, $95 paid in cash. j. Collected accounts receivable on December 10, $34. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $5. 1. Supplies counted on December 31, 2018, $12. m. Depreciation for the year on the equipment, $5. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded. $13. p. Income tax for the year was $7. It will be paid in 2019. NEU OD REU U Required information Assets Current Assets H&H TOOL, INC. Balance Sheet For the Year Ended December 31, 2018 (in thousands) Liabilities Current Liabilities $ 75 Accounts Payable 22 Interest Payable 12 Salaries and Wages Payable Income Tax Payable Notes Payable (short-term) Cash Accounts Receivable $ 11 Supplies 1 13 7 11 Total Current Assets Land 109 8 43 $ 70 Total Current Liabilities Stockholders' Equity Common Stock Retained Earnings (10) Equipment Accumulated Depreciation Software Accumulated Amortization Total Assets 60 $ 107 15 43 10 25 202 $ Total Stockholders' Equity Total Liabilities and Stockholders' Equity 150 $ 193