Kennedy company paid $24,000 in insurance premiums during 2014. Their financial statements showed $4000 in prepaid insurance on its Balance sheet as of December 31, 2013 and $6.000 on its Balance Sheets as of December 31, 2014. The insurance expense to be reported on the income statement for 2014 should be Select one A. $25, 800 B $20, 400 C. $28, 500 D. $22,000