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Brothers Herm and Steve Hargenrater began operations of their tool and die shop $($H & H Tool$)$ on January $1,1987,$ in Meadville, PA$.$ The annual reporting period ends December $31.$ Assume that the trial balance on January $1,2023,$ was as follows:

H & H ToolTrial Balance on January $1,2023($dollars in millions, except par value$)$Account TitlesDebitCreditCash$5$Accounts receivable$4$Supplies$27$Land$$Equipment$94$Accumulated depreciation $($on equipment$)13$Other noncurrent assets $($not detailed to simplify$)8$Accounts payable$$Wages payable$$Interest payable$$Dividends payable$$Income taxes payable$$Long$-$term notes payable$$Common stock $(8$ million shares, $$0\mathrm{.}50$ par value$)4$Additional paid$-$in capital$96$Retained earnings$25$Service revenue$$Depreciation expense$$Supplies expense$$Wages expense$$Interest expense$$Income tax expense$$Miscellaneous expenses $($not detailed to simplify$)$Totals$138138$

Transactions during $2023$ follow. All dollars are in millions, except per share amounts:

Borrowed $$24$ cash on a $5-$year, $10$ percent note payable, dated March $1,2023.$

Sold $4$ million additional shares of common stock for cash at $$1$ market value per share on January $1,2023.$

Purchased land for a future building site; paid cash,$$$$19.$

Earned $$308$ in revenues for $2023,$ including $$65$ on credit and the rest in cash.

Incurred $$105$ in wages expense and $$41$ in miscellaneous expenses for $2023,$ with $$36$ on credit and the rest paid in cash.

Collected accounts receivable, $$40.$

Purchased other noncurrent assets, $$14$ cash.

Purchased supplies on account for future use, $$39.$

Paid accounts payable, $$38.$

Declared cash dividends on December $1,$ $$20.$

Signed a three$-$year $$45$ service contract to start February $1,2024.$

Paid the dividends in $($j$)$ on December $31.$

Data for adjusting entries:

Supplies counted on December $31,2023,$ $$30.$

Depreciation for the year on the equipment, $$15.$

Interest accrued on notes payable $($to be computed$).$

Wages earned by employees since the December $24$ payroll but not yet paid, $$17.$

Income tax expense, $$14,$ payable in $2024.$