Interest Payable Retained Earnings Required information [The following information applies to the questions displayed below.) Brothers Harry and Herman Hausyerday began operations of their 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): Account Titles Debit Credit Cash $ 2 Accounts Receivable 6 Supplies 13 Land 0 Equipment 51 Accumulated Depreciation $ 5 Software 24 Accumulated Amortization 4. Accounts Payable 4 Notes Payable (short-term) 0 Salaries and Wages Payable Income Tax Payable 0 Common Stock 74 9 Service Revenue 0 Salaries and Wages Expense 0 Depreciation Expense 0 Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals $96 $ 96 0 0 0 Transactions and events during 2018 (summarized in thousands of dollars) follow: 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 $33. 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 $142 on December 8, including $31 on credit and $111 collected in cash. i. Recognized salaries and wages expense on December 9, $76 paid in cash. j. Collected accounts receivable on December 10, $15. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $4. 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, $11. p. Income tax for the year was $7. It will be paid in 2019. 6-a. Prepare an income statement. 6-b. Prepare the statement of retained earnings. 6-c. Prepare the balance sheet. Req 6A Req 6B Req 6C Prepare an income statement. (Enter your answers in thousands of dollars.) H & H TOOL, INC. Income Statement (in thousands) 0 0