Depreciation on the company's equipment for 2015 is computed to be $18,000. The Prepaid on the company s equipment for 2015 is computed to be $ 18,000. The Office Supplies account had a $700 debit balance on December 31, 2014; and $3,480 of office supplies were purchased during the year. The December 31, 2015, physical count showed $300 of supplies available. Two-thirds of the work related to $15,000 of cash received in advance was performed this period. The Prepaid Insurance account had a $6,800 debit balance at December 31, 2015, before adjusting for the costs of any expired coverage. An analysis of insurance policies showed that $5,800 ot coverage had expired. Wage expenses of $3,200 have been incurred but are not paid as of December. 1