Depreciation on the company's equipment for the year is computed to be $12,000. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the companys insurance policies showed that $1,050 of unexpired insurance coverage remains. The Supplies account had a $530 debit balance at the beginning of the year, and $2,680 of supplies were purchased during the year. The December 31 physical count showed $625 of supplies available. Three-fourths of the work related to $13,000 of cash received in advance was performed this period. The Prepaid Rent account had a $6,000 debit balance at December 31 before adjusting for the costs of expired prepaid rent. An