ABC Wholesale Corporation maintains its records on a cash basis. At the end of each year the company$$s accountant obtains the necessary information to prepare accrual basis financial statements. The following cash flows occurred during the year ended December $31,2016$:

Cash receipts:

From customers $$67500$

Interest on note $4000$

Loan from a local bank $100000$

Total cash reccipts $$779000$

Cash disbursements:

Purchase of merchandise $$390000$

Annual insurance payment $6000$

Payment of salaries and wages $210000$

Dividends paid to sharcholders $10000$

Annual rent payment $24000$

Total cash disbursements $$640000$

Selected balance sheet information: $31\backslash 12\backslash 2015,31\backslash 12\backslash 2016$ respectively

Cash $$25,000,$ $$164,000$

Accounts receivable $62,000,92,000$

Inventory $80,000,62,000$

Prepaid insurance $2,500,?$

Prepaid rent $11,000,?$

Interest receivable $3,000,?$

Note receivable $50,000,50,000$

Equipment $100,000,100,000$

Accumulated depreciation$-$equipment $(40,000),(50,000)$

Accounts payable $($for merchandise$)110,000,122,000$

Salaries and wages payable $20,000,24,000$

Note payable $-0,100,000$

Interest payable $0,?$

Additional information:

On March $31,2015,$ ABC lent a customer $$50,000.$ Interest at $8\%$ is payable annually on each March $31.$ Principal is due in $2019.$

The annual insurance payment is paid in advance on April $30.$ The policy period begins on May $1.$

On October $31,2016,$ ABC borrowed $$100,000$ from a local bank. Principal and interest at $6\%$ are due on October $31,2017.$

Annual rent on the company$$s facilities is paid in advance on June $30.$ The rental period begins on July $1.$

Determine the following balance sheet amounts on December $31,2016$: $($When entering answers, DO NOT use $"$$$"$ nor $","$ nor decimals. For example, to enter $$1,500,$ simply enter $1500).$

Prepaid insurance on December $31,2016$ is Answer $1$

Prepaid rent on December $31,2016$ is Answer $2$

Interest Receivable on December $31,2016$ is Answer $3$

Interest Payable on December $31,2016$ is Answer $4$

Determine the following income statement amounts for the year ended December $31,2016$: $($When entering answers, DO NOT use $"$$$"$ nor $","$ nor decimals. For example, to enter $$1,500,$ simply enter $1500).$

Sales Revenue for the year ended December $31,2016$ is Answer $5$

Cost of purchases for the year ended December $31,2016$ is Answer $6$

Cost of goods sold for the year ended December $31,2016$ is Answer $7$

Salaries Expense for the year ended December $31,2016$ is Answer $8$