Dion Lte is making adjusting entries for the current year ended December 31. In developing information for the adjusting entries, the accountant learned the following: a. Dion renewed its one-year insurance policy and paid $3,360 on October 1 , of the current year for a one-year insurance policy with coverage beginning on that date. The company paid $3,300 on October 1 of the previous year for the same insurance coverage. b. At December 31 of the current year, the following data relating to shipping supplies were obtained from the records and supporting documents. Required: 1. Prepare the adjusting entry for insurance at December 31 of the current year, assuming that the bookkeeper debited the full amount paid on October 1 of the current year to prepaid insurance. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the expiration of insurance for three months Note: Enter debits before credits. 2. Prepare the adjusting entry for shipping supplies at December 31 of the current year, assuming that the purchases of shipping supplies were debited in full to shipping supplies inventory. (If no entry is required for a transaction/event, select "No journal entry equired" in the first account field.) Journal entry worksheet Record the use of shipping supplies for the year. Note: Enter debits before credits. 3. What amount should be reported for insurance expense and shipping supplies expense, on the statement of earnings for the current year? (Do not round intermediate calculations.) 4. What amount should be reported for prepaid insurance and shipping supplies inventory on the statement of financial position at December 31 of the current year? (Do not round intermediate calculations.)