To find the cost of the drawing tablet, we can subtract the cost of the colored pencils from the total cost of the supplies.
Total cost of supplies = $6.94
Cost of colored pencils = $3.95
Cost of drawing tablet = Total cost of supplies - Cost of colored pencils
Cost of drawing tablet = $6.94 - $3.95
Cost of drawing tablet = $2.99
So, the cost of the drawing tablet is $2.99.