Your examination of Sullivan Companys records provides the following information for the December 31, year-end adjustments:

1.	Bad debts are to be recorded at 2% of sales. Sales made on credit totaled $20,000 for the year.
2.	Salaries at year-end that have accumulated but have not been paid total $1,400.
3.	Annual straight-line depreciation for the companys equipment is based on a cost of $29,000, an estimated life of 8 years, and an estimated residual value of $1,000.
4.	Prepaid insurance in the amount of $800 has expired.
5.	Interest that has been earned but not collected totals $500.
6.	The company has satisfied performance obligations entitling it to rent in the amount of $1,000.
7.	Interest on a note payable that has accumulated but has not been paid totals $600.
8.	The income tax rate is 30% on current income and is payable in the first quarter of the next yea