1. Catrina Corporation took out a new insurance policy on their recently built offices. The policy cost $100,000 and covered 24 months, from Oct 1, 20X1 to the end of Sep 20X3. When Catrina prepares its income statement for the year ended 20X1, what amount will be shown as insurance expense? Enter your response as a whole number, no commas, no dollar signs.

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2. Bennett Inc. has assets of $92,000 and liabilities of $20,000. If contributed capital is $7,000, what is retained earnings? Enter your response as a whole number, no commas, no dollar sign.

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3. Bennett Inc. has the following balances in their accounts at year-end. What are their total liabilities?

Accounts Payable	$ 120,000
Accounts Receivable	$ 45,700
Retained Earnings	$ 40,000
Utilities Expense	$ 12,500
Sales Revenue	$ 250,000
Buildings	$ 150,000
Common Stock	$ 200,000
Cash	$ 45,000
Equipment	$ 84,500
Income taxes payable	$ 7,500
Travel expense	$ 2,200
Land	$ 20,000
Rent Expense	$ 150,000
Furniture	$ 112,900
Salaries expense	$ 80,500

Enter the amount as a whole number, no commas, no dollar signs.

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