X Company prepares annual financial statements. On May 1, 2019, the Company paid $51,000 in advance for a two-year insurance policy. After the adjusting entry on December 31, 2019, what will X Company's 2019 financial statements show? Prepaid Insurance, $6,375; Insurance expense, $44,625 Prepaid Insurance, $44,625; Insurance expense, $6,375 Prepaid Insurance, $0; Insurance expense, $51,000 Prepaid Insurance, $17,000; Insurance expense, $34,000 Prepaid Insurance, $34,000; Insurance expense, $17,000 Prepaid Insurance, $51,000; Insurance expense, $0