The trial balance of Ortiz Company as of January 31, 20X1, after the company completed the first month of operations, is shown in the partial worksheet below. Required: Complete the worksheet by making the following adjustments: supplies on hand at the end of the month, $7,400; expired insurance, $7,100; depreciation expense on equipment for the period, $3,200 Analyze: How does the insurance adjustment affect Prepaid Insurance? Complete this question by entering your answers in the tabs below. Trial Balance ORTIZ COMPANY Worksheet (Partial) Month Ended January 31, 20X5 Adjustments Credit Debit Credit Account Name Debit Cash $ 103,400 Accounts receivable 20,200 Supplies 37,800 Prepaid insurance 56,400 Equipment 107,400 Accumulated depreciation-Equipment Accounts payable 24,200 Frank Ortiz, Capital 251,400 Frank Ortiz, Drawing 13,800 Fees income 96,600 Supplies expense Insurance expense Salaries expense Depreciation expense-Equipment Utilities expense Sub-totals Adjusted Trial Balance Incor Debit Credit Debit 30,600 2,600 $ 372.200 $ 372,200 5 05 05 0 $ 0 $ How does the insurance adjustment affect Prepaid Insurance? Complete this question by entering your answers in the tabs below. Partial Worksheet Analyze How does the insurance adjustment affect Prepaid Insurance? Insurance adjustment