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 Incorporated 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 Account Titles Debit Credit Cash 54 Accounts receivable 4 Supplies 11 Land Equipment 53 Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term Salaries and ages Payable Interest Payable Income Tax Payable Coron Stock Retained Earnings Service Revenue Salaries and leges Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals 20 S. Transactions and events during 2021 (summarized in thousands of dollars) follow Borrowed $13 cash on March 1 using a short-term note b. Purchased land on March 2 for future building site, paid cash 37 c.Issued additional shares of common stock on April 3 for $31 d Purchased software on July 4, 512 cash e Purchased supplies on account on October 5 for future use. $17 Pald accounts payable on November 6. 514 9. Signed a $30 service contract on November 7 to start February 1 2022 h Recorded revenues of $146 on December 8, including 533 on credt and 5113 codected in cash Recognized salaries and wages expense on December 9, 578 paid in casti Collected accounts receivable on December 10, $17 Data for adjusting journal entries as of December 31 Unrecorded amortization for the year on software. 57 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 pincome tax for the year was 59. It will be paid in 2022 Required: Complete this question by entering your answers in the tabs below. Reg 6A Reg 68 Req6C Prepare an income statement. (Enter your answers in thousands of dollars.) H&H TOOL, INCORPORATED Income Statement (in thousands) RER Complete this question by entering your answers in the tabs below. Req6A Reg 68 Reg 6C Prepare the statement of retained earnings. (Enter your answers in thousands of dollars.) HEHTOOL, INCORPORATED Statement of Retained Earnings in thousands) Balance, January 1, 2021 Balance December 31, 2021 Req 6A Req6B Reg 6 Prepare the balance sheet. (Enter your answers in thousands of dollars. Amounts to be deducted should be indicated by a minus sign.) HH TOOL, INCORPORATED Balance Sheet in thousands) 0 Equipment 0 Software 0 $ 0 S