Given the following 2023 information for the Pinto Company: Increase in Wages Payable Operating Expenses Total Cash paid for expenses 12/31/23 Prepaid Insurance $ 400 $5,000 $4,100 $1,200 Operating Expenses and cash paid for expenses consisted of amounts for insurance and wages only. The 1/1/23 balance of Prepaid Insurance was: Given the following 2023 information for the Pinto Company: Increase in Wages Payable Operating Expenses Total Cash paid for expenses 12/31/23 Prepaid Insurance $ 400 $5,000 $4,100 $1,200 Operating Expenses and cash paid for expenses consisted of amounts for insurance and wages only. The 1/1/23 balance of Prepaid Insurance was: