(Learning Objective 1: Reporting a short-term note payable and the related interest in the fi nancial statements) This short exercise works with Short Exercise 9-1.

1. Refer to the data in Short Exercise 9-1. Show what the company would report on its balance sheet at June 30, 20X1, and on its income statement for the year ended on that date.

2. What single item will the fi nancial statements for the year ended June 30, 20X2, report?

Identify the fi nancial statement, the item, and its amount.