Presented below is a balance sheet for jim henson yard service at december 31, 2022. jim henson yard service balance sheet december 31, 2022
assets liabilities and stockholders' equity
cash $13,000
liabilities accounts receivable 6,000
accounts payable $ 8,000
supplies 9,000
notes payable 15,000
equipment 11,000
stockholders' equity retained earnings 15,000
common stock 1,000
total assets $39,000
total liabilities $39,000
The following additional data are available for the year which began on January 1: All expenses (excluding supplies expense) total £6,000. Supplies on January 1 were £11,000 and £5,000 of supplies were purchased during the year. Net income for the year was £8,000 and dividends paid were £5,000. Instructions Determine the following: (Show all computations.) 1. Supplies used during the year.