On January 1 2019, Ryan Company paid the premium on a four-year insurance policy in the amount of $5,600. At that time, the full amount paid was recorded as prepard insurance. After recording the adjusting entry for the insurance policy on December 31, 2019, what would be the balance in Ryan Company's prepaid insurance account? Multiple Choice 55,600 S3100 S3200 S4.200 Coleman Company has provided the following information beginning inventory, $115,000, cost of goods sold. $465,000 and ending inventory. $87.500 How much were Coleman's inventory purchases? Multiple Choice 5427,500 5417,500. ( 437.500. $465,000 Which financial statement that we have discussed in class answers the question "What did the company do with its resources this period? Multiple Choice O Balance Sheet Statement of Retained Earnings (Statement of Stockholders' Equity o income Statement 0 Trial Balance