The following year-end totals were taken from the records of Landau’s Supply House. Compute the cash outflows associated with insurance and wages during 1997. 1997 1996 Prepaid insurance $7,000 $4,200 Wages payable 6,000 0 Insurance expense 3,000 4,700 Wage expense 8,500 3,000 El 4-10 (Reconstructing a transaction and its cash effect) El 4-11 (Computing cash provided by operations from accrual information) El 4-12 (Preparing a statement of cash flowsfrom information contained in two balance sheets, an income statement, and a statement of retained earnings) Chapter 14 The Statement of Cash Flows 719