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Balance Sheet Assets 12/31/20X1 12/31/20X2 Cash 64,000 100,000 Accounts Receivable 25,000 20,000 Inventory 10,000 14,000 Prepaid Rent 4,000 7,000 Equipment 125,000 220,000 Accumulated Depreciation 20,000

Balance Sheet
Assets 12/31/20X1 12/31/20X2
Cash 64,000 100,000
Accounts Receivable 25,000 20,000
Inventory 10,000 14,000
Prepaid Rent 4,000 7,000
Equipment 125,000 220,000
Accumulated Depreciation 20,000 35,000
Book Value of Equipment 105,000 185,000
Total Assets 208,000 326,000
Liabilities
Accounts Payable 25,000 40,000
Notes Payable 100,000 90,000
Interest Payable 5,000 8,000
Total Liabilities 130,000 138,000
Owners Equity
Stock 75,000 121,000
Retained Earnings 3,000 67,000
Total Equity 78,000 188,000
Total Liabilities + Equity 208,000 326,000
Income Statement
Revenues 150,000
COGS (45,000)
Rent Expense (3,000)
Depreciation Expense (15,000)
Interest Expense (5,000)
Insurance Expense (467)

What is Cash Paid for Insurance? Please enter a positive number in your answer, even though I'm asking for cash paid.

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