Yard Professionals Incorporated experienced the following events in Year 1, its first year of operation: Performed services for $31,000 cash. Purchased $7,800 of supplies on account. A physical count on December 31, Year 1, found that there was $1,540 of supplies on hand. Required: Based on this information alone: What is the balance in the Supplies Expense account as of January 1, Year 2?