Borrowed $20,000 cash on July 1, 2017, signing a one-year, 10 percent note payable. Purchased equipment for $16,000 cash on July 1, 2017. Sold 20,000 additional shares on July 29, 2017, of capital stock for cash at $.50 market value per share at the beginning of the year. Earned $110,000 in revenue. Transactions dated August 15, 2017, including $22,000 on credit and the rest in cash. Incurred remaining expenses of $30,000, invoices dated September 15, 2017 including $12,000 on credit and the rest paid in cash. Purchased additional small tools on September 23, 2017, $6,000 cash. Collected accounts receivables on October 6, 2017, $10,000. Paid accounts payable on November 11, 2017, $14,000. Purchased $13,000 of supplies on account on November 30, 2017. Received a $6,000 deposit on December 2, 2017, for work to start January 15, 2018. Declared and paid cash dividends on December 17th, $15,000. Data for adjusting entries: Supplies of $3,000 and small tools of $12,000 were counted on December 31, 2017 (debit Remaining Expenses). Depreciation for 2017, $2,000. Interest accrued on notes payable (to be computed). Wages earned since the December 24 payroll but not yet paid, $8,000. Income tax expense was $9,000, payable in 2018