Brokeback Towing Company is at the end of its accounting year, which is December $31,2020.$ The following data that must be considered were developed from the company$$s records and related documents:

On July $1,2020,$ a three$-$year insurance premium on equipment in the amount of $$1,680$ was paid and debited in full to Prepaid Insurance on that date. Coverage began on July $1.$

At the end of $2020,$ the unadjusted balance in the Office Supplies account was $$1,900.$ A physical count of supplies on December $31,2020,$ indicated supplies costing $$840$ were still on hand.

On December $31,2020,$ YY$$s Garage completed repairs on one of Brokeback$$s trucks at a cost of $$1,160.$ The amount is not yet recorded. It will be paid during January $2021.$

In December, the $2020$ property tax bill for $$3,040$ was received from the city. The taxes, which have not been recorded, will be paid on February $15,2021.$

On December $31,2020,$ the company completed the work on a contract for an out$-$of$-$province company for $$16,900$ payable by the customer within $30$ days. No cash has been collected and no journal entry has been made for this transaction.

On July $1,2020,$ the company purchased a new hauling van. Depreciation for July to December $2020,$ estimated to total $$3,650,$ has not been recorded.

As of December $31,$ the company owes interest of $$950$ on a bank loan taken out on October $1,2020.$ The interest will be paid on September $30,2021,$ when the loan is repaid. No interest has been recorded yet.

The income before any of the adjustments or income taxes was $$48,000.$ The company$$s federal income tax rate is $30$ percent. Compute adjusted income based on all of the preceding information, and then determine and record income tax expense.