The Wildcat Magazine prepares annual financial statements. The December 31, 2016 and December 31, 2017, trial balances contained the following account information: Dec 31, 2016 Dec 31, 2017 Supplies $2,500 $3,300 Interest Receivable 0 800 Salaries Payable 8,000 6,500 Unearned Revenue 45,000 56,300 The following information is also known: a) The 2017 income statement reports $12,000 in supplies expense. b) Wildcat Magazine loaned money to a supplier on November 1st, 2017 at a 10% annual interest rate. The loan must be repaid with interest on March 1st, 2018. c) $112,000 was paid to employees for wages during 2017. d) Wildcat received $178,200 from customers for annual subscriptions during 2017. Required: 1. What was the cost of supplies purchased during 2017? 2. How much money was loaned to the supplier on November 1 st, 2017? 3. What was the total amount of salaries expense reported on the 2017 income statement? 4. How much subscription revenue was recognized (recorded) in 2017?