Please help with the calculations marked with the red "X"

Zambrano Wholesale Corporation maintains its records on a cash bas is. At the end of each year the company's accountant obtains the necessary information to prepare accrual basis financial statements. The following cash flows occurred during the year ended December 31, 2018: Cash receipts: $660,000 3,760 115,eee From customers Interest on note Loan from a local bank Total cash receipts $778,760 Cash disbursements : Purchase of merchandise Annual insurance payment Payment of salaries and wages Dividends paid to shareholders Annual rent payment $387,000 5,640 207,000 11,e0e 22,500 $633,140 Total cash disbursements Selected balance sheet information: 12/31/17 12/31/18 $169,120 89,e00 60,500 Cash 23,50e Accounts receivable 60,50e 77,ee0 2,200 Inventory Prepaid insurance Prepaid rent 10,700 2,820 Interest receivable Note receivable 47,eee 47,e00 Equipment Accumulated depreciation-equipment Accounts payable (for merchandise) Salaries and wages payable 85,eee 85,eee (47,e00) 119,000 (38,500) 108,500 19,700 23,500 115,e00 Notes payable Interest payable e Additional information: 1. On March 31, 2017, Zambrano lent a customer $47,000. Interest at 8% is payable annually on each March 31. Principal is due in 2021. 2 The annual insurance payment is paid in advance on April 30. The policy period begins on May 1. 3. On October 31, 2018, Zambrano borrowed $115,000 from a local bank. Principal and interest at 6% are due on October 31, 2019 4. Annual rent on the company's facilities is paid in advance on June 30. The rental period begins on July 1. Required: 1. Prepare an accrual basis income statement for 2018 (ignore income taxes). (Other expenses should be indicated with a minus sign.) 2. Determine the following balance sheet amounts on December 31,, 2018: Prepare an accrual basis income statement for 2018 (ignore income taxes). (Other expenses should be indicated with a minus sign.) ZAMBRANO WHOLE SALE CORPORATION Income Statement For the Year Ended December 31, 2018 Sales revenue 0 Cost of goods sold Gross profit Operating expenses Insurance expense Salaries and wages expense 0 x Rent expense 0 Depreciation expense Total operating expenses 0 Operating income 0 Other income (expense) 0 x Interest revenue Interest expense 0 0 0 Net income Determine the following balance sheet amounts on December 31, 2018: Prepaid insurance Prepaid rent Interest receivable Interest a. 0 X b. C. 0 x d. payable