Ellis Ltd accumulates the following adjustment data at 31 December. Assume profit before the adjustments listed above was $16,500. What is the adjusted profit?
1. Revenue of $800 collected in advance has now been earned.
2. Salaries of $600 are unpaid.
3. Prepaid rent totalling $450 has expired.
4. Supplies of $550 have been used.
5. Revenue earned but not yet invoiced totals $750.
6. Electricity expenses of $200 are unpaid.
7. Interest of $250 has accrued on a note payable.