Pain-Free Dental Group Inc. purchased dental supplies of $16,255 during the year. At the end of the year, a physical count of supplies showed $3,255 of supplies on hand. Required: 1. Prepare the adjusting entry needed at the end of the year Dec. 31 Supplies Expense Supplies (Record the use of supplies) Feedback Check My Work 2. What is the amount of supplies reported on Pain-Free's statement of financial position at the end of the year? What is the amount of supplies expense reported on the income statement