Use the following information for questions $147$ through $149$:

Olsen Company paid or collected during $2019$ the following items:

The following balances have been excerpted from Olsen's statement of financial position:

$*147.$ The insurance expense on the income statement for $2019$ was

a$.9,700.$

b$.12,100.$

c$.12,700.$

d$.15,100.$

the answer is c$,$ but I$\text{'}$m not sure why the anaswer is c$...$could you explain why??