The following information applies to the questions displayed below. Martin Towing Company is at the end of its accounting year, December 31, 2014. The following data that must be considered were developed from the company's records and related documents: a. On January 1, 2014, the company purchased a new hauling van at a cash cost of $24,300. Depreciation b. During 2014, office supplies amounting to $990 were purchased for cash and debited in full to Supplies estimated at $2,000 for the year has not been recorded for 2014 At the end of 2013, the count of supplies remaining on hand was $290. The inventory of supplies counted c. On December 31, 2014, Lanie's Garage completed repairs on one of the company's trucks at a cost of d. On December 31, 2014, property taxes on land owned during 2014 were estimated at $1,380. The taxes e. On December 31, 2014, the company completed a contract for an out-of-state company for $6,600 on hand at December 31, 2014, was $290 $1,070; the amount is not yet recorded and by agreement will be paid during January 2015 have not been recorded, and will be paid in 2015 when billed. payable by the customer within 30 days. No cash has been collected, and no journal entry has been made for this transaction f. On July 1, 2014, a three-year insurance premium on equipment in the amount of $1,080 was paid and g. On October 1, 2014, the company borrowed $10,800 from the local bank on a one-year, 12 percent note h. The income before any of the adjustments or income taxes was $35,000. The company's federal income debited in full to Prepaid Insurance on that date. Coverage began on July 1 payable. The principal plus interest is payable at the end of 12 months tax rate is 30 percent. (Hint: Compute adjusted income based on (a) through (g) to determine income tax expense.)