Question 3 A company prepares financial statements in order to summarize financial information. Below are a list of financial statements and a list of descriptions. Match each financial statement with its description. Not yet answered Points out of 1.00 Details the sources and uses of cash during a specified of time. P Flag question Choose... Choose... Shows the financial condition of an entity as of a specified date Statement of Cash Flows Presents a reconciliation of the beginning and ending balances of the stockholders' equity accounts Statement of Stockholders' Equity Summary of revenues and expenses and gains and specified period of time. Income statement losses for a Balance sheet The Jones Company debits prepaid insurance for insurance premiums paid. During the year insurance expense is computed for interim periods and insurance expense is debited and prepaid insurance is credited. Information for the year ended December 31, 2012 follows: uestion 4 ot yet nswered Points out of Prepaid Insurance December 31, 2011 $180,000 1.00 P Flag Insurance expense $320,000 question Prepaid Insuracne december 31, 2012 $170,000 Determine the insurance premiums paid during 2012