3. Adam's Apples opened for business on January 1, 2019, and paid for two insurance policies effective that date. The liability policy was $36,000 for eighteen-months, and the crop damage policy was $12,000 for a two-year term. What was the balance in Adam's Prepaid Insurance account as of December 31, 2019? a. $9,000 b. $18,000 c. $30,000 d. $48,000. I 5. The following financial information is from Daily Construction Company: Accounts Payable $15,000 Buildings 80,000 Cash 10,500 Accounts Receivable 9,500 Sales Tax Payable 4,500 Retained Earnings 47,500 Supplies 40,000 Notes Payable (due in 18 months) 35,000 Interest Payable 3,000 Common Stock 35,000 What is the amount of current assets, assuming the accounts above reflect normal activity? a. $20,000. b. $60,000. c. $140,000 d. $175,000