A company has a fiscal year$-$end of December $31$: $(1)$ on October $1,$ $$27,000$ was paid for a one$-$year fire insurance policy; $(2)$ on June $30$ the company loaned its chief financial officer $$25,000$; principal and interest at $7\%$ on the note are due in one year; and $(3)$ equipment costing $$75,000$ was purchased at the beginning of the year for cash. Depreciation on the equipment is $$15,000$ per year.