Given the following 2024 information for the Pinto Company:

Decrease in Wages Payable $ 400

Operating Expenses $4,000

Total Cash paid for expenses $5,100

12/31/24 Prepaid Insurance $1,200

Operating Expenses and cash paid for expenses consisted of amounts for insurance and wages only.

The 1/1/24 balance of Prepaid Insurance was:

Select one:

a.

$500

b.

$1,750

c.

$2,700

d.

$300

e.

$1,900