Balance Sheet
	Year 1	Year 2	Year 3
Assets
Cash	50,000	40,000	92,000
Prepaid Insurance	6,000	3,000	6,000
Accounts Receivable	25,000	45,000	30,000
Inventory	10,000	10,000	39,000
Building	100,000	100,000	-
Accumulated Depreciation	25,000	30,000	-
Book Value of Building	75,000	70,000	-
Investments	-	-	10,000
Total Assets	166,000	168,000	177,000
Liabilities
Accounts Payable	25,000	15,000	40,000
Notes Payable	80,000	-	10,000
Interest Payable	4,000	1,000	-
Total Liabilities	109,000	16,000	50,000
Owners Equity
Retained Earnings	50,000	75,000	50,000
Stock	7,000	77,000	77,000
Total Owners Equity	57,000	152,000	127,000
Total Liabilities & Owners Equity	166,000	168,000	177,000
Income Statement
	Year 2	Year 3
Revenues	120,000	150,000
COGS	65,000	75,000
Gross Profit	55,000	75,000
Insurance Expense	3,000	3,000
Depreciation Expense	5,000	5,000
Interest Expense	1,000	2,000
Net Income	46,000	65,000

1 Using the attached Balance Sheet (Beginning Balance = Year1 and Ending Balance = Year2) and Income Statement from Year 2, what is Cash Received from Customers?

2 Using the attached Balance Sheet (Beginning Balance = Year1 and Ending Balance = Year2) and Income Statement from Year 2, what is Cash Paid for Insurance? Please enter a positive number, even though it represents cash paid.

3 Using the attached Balance Sheet (Beginning Balance = Year1 and Ending Balance = Year2) and Income Statement from Year 2, what is Cash Paid for Inventory? Please enter a positive number, even though it represents cash paid.

4 Using the attached Balance Sheet (Beginning Balance = Year1 and Ending Balance = Year2) and Income Statement from Year 2, what is Cash Paid for Property Plant & Equipment (which means Building for this problem)? Please enter a positive number, even though it represents cash paid.