C4-2 (Algo) From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2, 3, and 4) [LO 2-3, LO 3-3, LO 4-1, LO 4-2, LO 4-3, LO 4-4, LO 4-5, LO 4-6] (General Ledger) 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 balonce on Jansfary 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 building site; paid cash, $7. c. Issued additional shares of common stock on April 3 for $31. 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, 2022. h. Recorded revenues of $146 on December 8 , including $33 on credit and $113 collected in cash. i. Recognized salaries and wages expense on December 9,$78 paid in cash. j. Collected accounts receivable on December 10,$17. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, \$7. 1. Supplies counted on December 31, 2021, \$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, \$13. p. Income tax for the year was \$9. It will be paid in 2022. Choose the appropriate accounts to be reported on the income statement. Select the 'adjusted' from the dropdown, then populate the balances in those accounts from the trial balance. Prepare the statement of retained earnings for the year ended December 31,2021 . You will need to determine and enter the accounts and balances to prepare the Statement of Retained Earnings. Calculate the Net Income, Net Profit Margin and Current Ratio. Net income can be found on Income statement tab. (Hint : Select Adjusted on the dropdown.) Use the dropdowns to seiect the accounts properfy included on the classfied balance sheet. The unadjusted, adjusted, or post-closing balances will appeser for each sccount, based on your selection