DE11-3 This exercise should be done in conjunction with Daily Exercise 11-2. 1. Refer to the data in Daily Exercise 11-2. Show what the company would report for the note payable on its balance sheet at December 31, 20X1, and on its income statement for the year ended on that date. 2. What one item will the financial statements for the year ended December 31. 20X2. report? Identify the financial statement, the item, and its amount.