Reference no: EM132524786

The following information is available for Buckeye Company:

                            January 1, 2020                   December 31, 2020
ASSETS
Cash                         $25,000                           $30,000
Supplies                    6,000                               10,000
Land                         40,000                              40,000
Equipment                 20,000                               25,000

LIABILITIES + EQUITY
Accounts payable       $14,000                           $14,000
Notes payable              20,000                           22,000
Common stock             40,000                          40,000
Retained earnings        17,000                              ?

Buckeye Company reported revenues of $57,000 during 2020 and paid dividends of $10,000 during 2020.

Question 1: Calculate the total expenses incurred by Buckeye Company during 2020.