The general ledger account balances for Looney Tunes Incorporated follow. December 31 2021 December 31 2020 Accounts Receivable 3,000 1,500 Inventory 4,500 3,200 Prepaid Insurance 600 1,300 Accounts Payable-Inventory 4,000 5,000 Wages Payable 8,500 7,000 Accounts Payable-OOE 8,600 9,400 Fees Earned 47,500 Cost of Goods Sold 12,000 Other Operating Expenses 19,000 Wage Expense 5,000 Insurance Expense 4,000 SHOW YOUR WORK! Compute the (accrual based) net income. Compute the cash collected from customers. Compute the cash paid for insurance. Compute the cash paid for inventory