Worlds Problem Set #1 Page 15 of 19 d. In its balance sheet at December 31, 2021, Cardi B Furnishings Corp. reported $6,420 of supplies on hand. During 2022, Card & Fumihings Corp. purchased additional supplies on credit at a cost of $34,715 and increased the Supplies account by the amount purchased. On December 31, 2022, a physical count revealed that supplies costing $8,150 remained on hand and it must record the supplies used. Assets Balance Sheet Liabilities Income Statement Equity Revenue Expenses Net Income Statement of Cash Flows Cash Inflows (Outflows) Supporting Computation Required: On March 20, 2022, Cardi B Furnishings Corp. purchased a product liability insurance policy for coverage from April 1, 2022 through March 31, 2023 and paid $30,000 cash for the cost of the premiums for the full year of the policy. On December 31, 2022, Cardi B Furnishings Corp. determined that it used the insurance coverage from April 1 through December 31. Assets Balance Sheet Income Statement Liabilities Equity Revenue Expenses Net Income Statement of Cash Flows Cash Inflows (Outflows) Curation Computation Required: TASCHE