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Required information [The following information applies to the questions displayed below] 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): Transactions during 2018 (summarized in thousands of dollars) follow: Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $24 cash on July 1,2018 , signing a six-month note payable. b. Purchased equipment for $27 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. f. Recorded revenues on December 6 of $59, including $10 on credit and $49 recelved in cash. g. Recognized salarles and wages expense on December 7 of $32; paid in cash. h. Collected accounts receivable on December 8,$7. 1. Paid accounts payable on December 9,$8. j. Recelved 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 . 1, 3, 5 and 8. Set up T-accounts for the accounts on the trial balance. Enter beginning bolances and post the transactions (o) (0) adjusting entries (k) - (p) and closing entry. (Enter your answers in thousands of dollars.) 3. Post the journal entries from requirement 2 to T-accounts and prepare an unadjusted trial balance. (Enter your onswers In thousands of dollars.) 4. 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 occount fleid. Enter your answers in thousands of dollors.) 5. Post the adjusting entries from requirement 4 and prepare an adjusted tral balance. (Enter your answers In thousands of dollars.) 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 an income statement. (Enter your answers in thousands of dollars.) 7. Prepare the closing journal entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first occount fleid. Enter your answers in thousands of dollars.) Journal entry worksheet Record entry to dose revenue and expense accounts to retained earnings. Hiter Enter debits belore rredita. 8. Post the closing entry from requirement 7 and prepare a post-closing trial balance. (Enter your answers in thousands of dollars.) -a. How much net income did the physical therapy cilnic generate during 2018 ? What was its net profit margin? -b. Is the business financed primarly by ilabilities 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 the physical therapy clinic generate during 2018? What was its net profit margin? (Enter "Net Income" in thousands of dollars. Round "Net Profit Maroin" to 1 decimal place.)

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