Please prepare the following

1.Prepare the Journal Entries of the transactions during 2021

2.Prepare Adjusting entries as of December 31,2021

3.Prepare the adjusted trial balance of H & H tool, Inc at December 31, 2021

4.Prepare the Income statement of H & H tool, Inc for the year ended at December 31, 2021

5.Prepare the statement of retained earnings of H & H tool, Inc for the year ended at December 31, 2021

-6.Prepare the balance sheet of H & H tool Inc as of December 31,2021

7.Prepare the closing entries for H& H tool Inc

8.Prepare the post closing trial balance of H&H tool Inc at December 31, 2021

9.Evaluate the financial performance of H&H tool Inc

Instructions:

Refer to the H & H Tool, Inc.'s given information from Problem C4-2

Transactions and events during 2021 (summarized in thousands of dollars) follow: a. Borrowed $12 cash on March 1 using a short-term note. b. Purchased land on March 2 for future building site; paid cash, $9. c. Issued additional shares of common stock on April 3 for $23. d. Purchased software on July 4,$10 cash. e. Purchased supplies on account on October 5 for future use, $18. f. Paid accounts payable on November 6,$13. g. Signed a $25 service contract on November 7 to start February 1, 2022. h. Recorded revenues of $160 on December 8 , including $40 on credit and $120 collected in cash. i. Recognized salaries and wages expense on December 9,$85 paid in cash. j. Collected accounts receivable on December 10,$24. Data for adjusting journal entries as of December 31 : k. Unrecorded amortization for the year on software, $5. l. Supplies counted on December 31,2021,$10. m. Depreciation for the year on the equipment, $6. n. Interest of $1 to accrue on notes payable. o. Salaries and wages earned but not yet paid or recorded, $12. p. Income tax for the year was $8. It will be paid in 2022 . C4-2 From Recording Transactions (Including Adjusting Journal Entries) to Preparing Financial Statements and Closing Journal Entries (Chapters 2, 3, and 4) Brothers Harry and Herman Hausyerday began operations of their machine shop (H&H Tool, Inc.) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, follows (the amounts are rounded to thousands of dollars to simplify)