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Prepare a post-closing trial balance. (Enter your answers in thousands of dollars.) Required: 9-a. How much net income did H \& H Tool, Incorporated, generate during 2021? What was its net profit margin? 9-b. Is the company financed primarily by liabilities or stockholders' equity? 9-c. What is its current ratio? Complete this question by entering your answers in the tabs below. How much net income did H \& H Tool, Incorporated, generate during 2021? What was its net profit margin? (Enter "Net Income" in thousands of dollars. Round "Net Profit Margin" to 1 decimal place.) 2. Record journal entries for transactions (a) through ()). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.) Record the adjusting journal entries ( k ) through ( p ). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.) . Prepare the closing journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.) Journal entry worksheet Record entry to close revenue and expense accounts to retained earnings. Note: Enter debits before credits. 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): 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 $28. 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 $152 on December 8 , including $36 on credit and $116 collected in cash. i. Recognized salaries and wages expense on December 9,$81 paid in cash. j. Collected accounts receivable on December 10, $20. Data for adjusting journal entries as of December 31: k. Unrecorded amortization for the year on software, $4. I. 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. 5. Prepare an adjusted trial balance. (Enter your answers in thousands of dollars.) Complete this question by entering your answers in the tabs below. Prepare an income statement. (Enter your answers in thousands of dollars.) Prepare an unadjusted trial balance. (Enter your answers in thousands of dollars.) T accounts. Enter beginning balances and post journal entries from Part 2, the adjusting journal entries from Part 4, and the closi entry from Part 7. (Enter your answers in thousands of dollars.) Salaries and Wages Payable \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Notes Payable (short-term) } \\ \hline Debit & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Interest Payable } \\ \hline Deginning Balance & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ Common Stock } \\ \hline Deginning Balance & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending Balance & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ Depreciation Expense } \\ \hline Debit & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. Required: 6-a. Prepare an income statement. 6-b. Prepare the statement of retained earnings. 6-c. Prepare the balance sheet. Complete this question by entering your answers in the tabs below. Prepare the statement of retained earnings. (Enter your answers in thousands of dollars.)

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