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Abardeen Corporation borrowed $54,000 from the bank on October 1, Year 1. The note had an 10 percent annual rate of interest and matured on March 31, Year 2. Interest and principal were paid in cash on the maturity date. Required a. What amount of cash did Abardeen pay for interest in Year 1? b. What amount of interest expense was recognized on the Year 1 income statement? (Do not round Intermediate calculations. Round your answer to the nearest dollar amount.) c. What amount of total liabiltids was reported on the December 31, Year 1, balance sheet? (Do not round Intermediate calculations. Round your answer to the nearest dollar amount.) d. What total amount of cash was paid to the bank on March 31, Year 2, for principal and interest? e. What amount of interest expense was reported on the Year 2 income statement? (Do not round Intermediate calculations. Round your answer to the nearest dollar amount.) Amount of cash paid hinterest expense Total liabilities Amount of cash paid interest expense Vall Book Mart sells books and other supplies to students in a state where the sales tax rate is 6 percent. Vail engaged in the following transactions during the year. Sales tax of 6 percent is collected on all sales. 1. Book sales, not including sales tax, for the year amounted to $272,000 cash. 2. Cash sales of miscellaneous items for the year were $145,000, not including tax. 3. Cost of goods sold was $211.000 for the year. 4. Paid $129,000 in operating expenses for the year. 5. Paid the sales tax collected to the state agency, Required a. What is the total amount of sales tax Vall Book Mart collected and paid for the year? b. What is the Vall Book Mart's net income for the year? Sales tax collected b. Net income