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Ann opened an Office Cleaning Service company on January 1 , 2 0 2 5 . During 2 0 2 5 she had the following

Ann opened an Office Cleaning Service company on January 1,2025. During 2025 she had the following transactions.
She started the business with investing $30,000 of her own money (business was organized as corporation)
She borrowed $40,000 from the bank by issuing a 5-year note.
She purchased $15,000 of furniture and equipment in cash.
She purchased a truck for business use at $20,000 in cash.
During the year, provided $85,000 services to customers of which $71,000 was collected, the rest was not yet collected as of Dec. 31st.
During the year, she incurred $58,000 of salaries expense of which $2000 was still not paid as of Dec. 31st.
During the year, she paid $3000 interest on the note to the Bank
During the year, she took $3,000 as dividend.
During the year, she collected $150 interest from bank on company account
During the year, purchased $2000 of supplies in cash. $500 of the supplies was left as of Dec. 31st.
During the last week of the year, she sold $500 of unnecessary equipment in cash at cost.
During the last week of the year, she collected $3000 from a customer for services to be rendered next year.
Depreciation on equipment for the year was estimated to be $2000.
During the year, she paid $12000 of rent.
During the year, the company paid $3000 to IRS for income tax expense.
Compute Anns total expenses for the year.

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