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On December 31, 2024, Oriole Inc. completed its fourth year of operations. Christina Georgiou is an aspiring CPA working part-time as a clerk in the company's accounting office. Christina assembled the following list of account balances, which are not arranged in any particular order: These account amounts are correct; however, Christina did not consider the following information: 1. As at December 31,2024, the supplies still on hand had a cost of $1,150. 2. On September 1,2024 , the company rented surplus space in one of its warehouses to a tenant for $3,120 per month. The tenant paid for six months in advance, which was recorded as deferred revenue. 3. Employees earned $5,120 of wages in December 2024 that will not be paid until the first scheduled payday in 2025 . 4. Depreciation for 2024 is $12,480 on the buildings and $25,600 on the equipment. 5. Additional dividends of $10,240 were declared in December 2024 but will not be paid until January 2025 . 6. The note receivable is a six-month note that has been outstanding since October 1,2024 (three months). The interest rate is 5% per year. The interest will be received by the company when the note becomes due at the end of March 2025. 7. The amount shown as insurance expense includes $1,200 for coverage over the first three months of 2025

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