(1) The Prepaid Insurance account had a $545 debit balance at the beginning of the current year; $895 of insurance premiums were paid during the year; and the year-end balance sheet showed $370 of prepaid insurance; consequently, the income statement for the year of insurance expense. must have shown $ (2) The Supplies account began the current year with a $235 debit balance; the income statement for the year showed $655 of supplies expense; and the year-end balance sheet showed supplies of $295; consequently, if all supplies were accounted for, $ of supplies must have been purchased during the year. Required: What amount should be in each blank? Show your work.