Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows the amounts are rounded to thousands of dollars to simplify): Credit Debit $ 8 Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense Totals OOOO $28 $28 Transactions during 2018 (summarized in thousands of dollars) follow: Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $27 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for $30 cash on July 2. 2018. C. Issued additional shares of common stock for $4 on July 3. d. Purchased software on July 4, $4 cash. e. Purchased supplies on July 5 on account for future use. $6. 7. Recorded revenues on December 6 of $62, including $10 on credit and $52 received in cash. g. Recognized salaries and wages expense on December 7 of $35; paid in cash. h. Collected accounts receivable on December 8, $7. 1. Pald accounts payable on December 9, $8. J. Received a $4 cash deposit on December 10 from a hospital for a contract to start January 5, 2019. Data for adjusting journal entries on December 31: k. Amortization for 2018, $1. 1. Supplies of $4 were counted on December 31, 2018. m. Depreciation for 2018, $2. n. Accrued interest of $1 on notes payable o. Salaries and wages incurred but not yet paid or recorded, $2. p. Income tax expense for 2018 was $5 and will be paid in 2019. (Enter all of your answers in thousands of dollars. (i.e., $100,000 should be entered as $100).) Calculate the Net Pofit Margin and Current Ratio. Net Income can be found on Income statement tab. (Hint: Select Adjusted on the dropdown.) to: Dec 10, 2018 Unadjusted Dates: Jan 01, 2015 How much not income did Northland Physical Therapy, Inc, generate during 2018? What was its not profit margin? (Round "Net Profil Margin" to 1 decimal place) Net Income Net Profit Margin is the company financed primarily by liabilities or stockholders equity What is the current ratio? (Round your answer to 2 decimal places.) Current Ratio Calculate the Net Pofit Margin and Current Ratio. Net income can be found on Income statement tab. (Hint: Select Adjust on the dropdown.) to: Dec 31, 201 Adjusted Dates: Jan 01, 2015 How much net income did Northland Physical Therapy, Inc., generate during 2018? What was its net profit margin? (Round "Net Profit Margin" to 1 decimal place.) Net Income Net Profit Margin % is the company financed primarily by liabilities or stockholders' equity? tio What is the current ratio? (Round your answer to 2 decimal places ) Current Ratio Calculate the Net Pofit Margin and Current Ratio. Net Income can be found on Income statement tab. (Hint: Select Adjusted on the dropdown.) Post-closing Dates: Jan 01, 2015 to: Dec 31, 2018 How much net income did Northland Physical Therapy, Inc, generate during 20187 What was its net profit margin (Round "Net Profit Margin" to 1 decimal place) Net Income Net Profit Martin Is the company financed primarily by liabilities or stockholders' equity? What is the current ratio? (Round your answer to 2 decimal places) Current Ratio
