Using the attached Balance Sheet (Beginning Balance = Year1 and Ending Balance = Year2) and Income Statement from Year 2, what is Cash Paid for Insurance? Please enter a positive number, even though it represents cash paid.

D Question 2 2 pts Balance Sheet Year 1 Year 2 Year 3 Assets Cash Prepaid Insurance Accounts Receivable Inventory Building Accumulated Depreciation Book Value of Building Investments Total Assets 50,000 6,000 25,000 10,000 100,000 25,000 75,000 40,000 3,000 45,000 10.000 100,000 30,000 70,000 92,000 6,000 30,000 39,000 10,000 177,000 166,000 168,000 15.000 Liabilities Accounts Payable Notes Payable Interest Payable 25,000 80,000 4,000 40,000 10,000 1,000 Total Liabilities 109,000 16,000 50,000 Owners Equity Retained Earnings Stock 50,000 7,000 75,000 77.000 50,000 77,000 Total Owners Equity 57,000 152,000 127,000 166,000 168,000 177.000 Total Liabilities & Owners Equity Income Statement Revenues COGS Gross Profit Insurance Expense Depreciation Expense Interest Expense Net Income Year 2 120,000 65,000 55,000 3,000 5,000 1,000 46,000 Year 3 150.000 75,000 75,000 3,000 5,000 2.000 65,000 Using the attached Balance Sheet (Beginning Balance = Year 1 and Ending Balance = Year2) and Income Statement from Year 2, what is Cash Paid for Insurance? Please enter a positive number, even though it represents cash paid