Assume that in December 2015 ASPCA pays a $60,000 liability insurance premium for its animal health services to cover the first 6 months of 2016. How would this affect the 2016 financial statements that you have? Please be specific about which accounts (line items) would be affected (14).

Statement of Financial Position

Assets = Liabilities + Net Assets

Statement of Activities

Statement of Functional Expenses (line item name not important)