Raintree Corporation maintains its records on a cash basis. At the end of each year the companys accountant obtains the necessary information to prepare accrual basis financial statements. The following cash flows occurred during the year ended December 31, 2024: Cash receipts: From customers $ 480,000 Interest on note 3,360 Issue of common stock 50,000 Total cash receipts $ 533,360 Cash disbursements: Purchase of inventory $ 226,000 Annual insurance payment 8,000 Payment of salaries 186,000 Dividends paid to shareholders 9,000 Annual rent payment 12,000 Total cash disbursements $ 441,000 Selected balance sheet information: 12/31/2023 12/31/2024 Cash $ 31,000 $ 123,360 Accounts receivable 48,000 82,000 Inventory 66,000 94,000 Prepaid insurance 4,000 ?question mark Prepaid rent 8,000 ?question mark Interest receivable 1,680 ?question mark Note receivable 56,000 56,000 Equipment 162,000 162,000 Accumulated depreciation (46,000) (67,000) Accounts payable (for inventory) 56,000 74,000 Salaries payable 26,000 40,000 Common stock 260,000 310,000 Dividends 0 8,000 Additional information: On June 30, 2023, Raintree lent a customer $56,000. Interest at 6% is payable annually on each June 30. Principal is due in 2027. The annual insurance payment is made in advance on March 31. Annual rent on the companys facilities is paid in advance on September 30. Required: Prepare an accrual basis income statement for 2024 (ignore income taxes). Determine the following balance sheet amounts on December 31, 2024