Use the information below (about an adjusting transaction) to fill in the missing information on this framework. b) On January 1st, Wayne Enterprises purchased a 6-month insurance policy for the company car for $3,000. (This transaction was already recorded at the time). On January 31st, the company must complete the adjusting process to record the expiration of insurance. Balance Sheet Jan 31 Balance *b* Cash 10,000 [A] Prepaid Insurance Supplies 3,000 1,000 [B] [C] Notes Payable Common Stock 5,000 5,000 [D] [F] Income Statement *b* O] Retained Earnings 4,000 [G] Cash Flows *b* [H] [K] If a spot does not need to be filled, type "leave blank" as your answer. Given the following information about this company's assets and liabilities, what is this company's total current assets? Accounts Payable Accounts Receivable Cash Land Notes Payable Office Equipment Prepaid Insurance Supplies Unearned Revenue Wages Payable $ 467 $ 1671 $ 314 $ 14500 $ 23000 $ 2099 $ 1,170 $ 1,558 $3651 $ 264 What is one way that the different financial statements are linked? Explain, in your own words, what might be happening in each of the three transactions recorded in the following framework. Balance Sheet Accounts Receivable Supplies 8,900 550 (7,250) Cash 34,500 7,250 Accounts Payable 1,000 Common Stock 35,000 Retained Earnings 7,950 Mar 1 Balance *a *b* (5,000) (200) 350 (5,000) (200) 2,750 Mar 31 Balance 36,750 1,650 1,000 35,000 Income Statement Expense (200) Statement of Cash Flows Operating 7,250 Operating (5,000) 2,250 *b* Please address each transaction (a, b, and c) in a separate sentence