1. BossBaby issue a $400,000, 8%, 10-year mortgage note on December 31, 2019. The proceeds from the note are to be used in financing a new research laboratory. The terms of the note provide for annual installment payments, exclusive of real estate taxes and insurance, of $59,612. Payments are due on December 31. Instructions a. Prepare an installment payments schedule for the first 3 years. (7%) b. Prepare the entries for (1) the loan and (2) the second installment payment. (5%) c. Show how the total mortgage liability should be reported on the statement of financial position at December 31, 2021. (4%)