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anual Posting) 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): Cash Accounts Reeivable Supplies 12 69 24 Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Common Stock Retained Earnings Service Revenue 90 Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals $113 $113 Transactions and events during 2018 (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. SS c Issued additional shares of common stock on April 3 for $23 e Purchased supplies on account on October 5 for future use. $18 3 4 9of 9 l Next> Prex Interest Expense Supplies Expense Totals $113 $113 Transactions and events during 2018 (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, 2019 Recorded revenues of S178 on December 8, including $49 on credit and $129 collected in cash & Recognized salaries and wages expense on December 9 $94 paid in cash / Collected accounts receivable on December 10, $33. Data for adjusting journal entries as of December 3 k. Unrecorded amortization for the year on software, $4 I Supplies counted on December 31, 2018. $10 m. Depreciation for the year on the equipment $6. n Interest of $1 to accrue on notes payable o Salaries and wages eamed but hot yet paid or recorded s12 P. Income tax for the year was $8 it will be paid in 2019 answers in thousands of 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 2019 Part 9 of 9 11.12 points 9-a. How much net income did H & H Tool, Inc., generate during 2018? 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? Skipped Complete this question by entering your answers in the tabs below. eBook Print Req 9A Req 98 Req 9C How much net income did H & H Tool, Inc., generate during 2018? What was its net thousands of dollars. Round "Net Profit Margin" to 1 decimal place.) profit margin? (Enter "Neti Net Income Net Proft Margin Req 9B > 9 k. Unrecorded amortization for the year on software, $4. L Supplies counted on December 31, 2018, $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 2019. Part 9 of 9 11.12 points 9-a. How much net income did H & H Tool, Inc. generate during 2018? 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? Skipped eBook Complete this question by entering your answers in the tabs below Print Req 9A Req 9B Req 9C Is the company financed primarily by liablities or stockholders' equity? Stockholders' Equity OLiabilities Req SA Req 9C > 9 i Suppiies counted on Uecember 31, zU18, s1U. 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 2019. Part 9 of9 9-a. How much net income did H & H Tool, Inc., generate during 2018? What was its net profit margin? 11.12 points 9-b. Is the company financed primarily by liabilities or stockholders equity? 9-c. What is its current ratio? Skipped eBook Complete this question by entering your answers in the tabs below Print Req 9A Req 98 Req 9c What is its current ratio? (Enter your answers in thousands of dollars) Current Ratio Numerator Denominator

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