1. Earned $16,200 of cash revenue. 2. Borrowed $12,000 cash from the bank. 3. Adjusted the accounting records to recognize accrued Interest expense on the bank note. The note, Issued on September 1, Year 1, had a one-year term and an 8 percent annual Interest rate. Required a. What is the amount of Interest payable at December 31, Year 1? b. What is the amount of Interest expense In Year 1? c. What is the amount of Interest pald In Year 1? d. Use a horizontal statements model to show how each event affects the balance sheet, Income statement, and statement of cash flows. Indicate whether the event increases () or decreases (D) each element of the financial statements. In the Statement of Cash Flows column, classify the cash flows as operating activities (OA). Investing activities (IA) or financing activities (FA). Columns for events that have no effect on any of the elements should be left blank. The first transaction has been recorded as an example. Complete this question by entering your answers in the tabs below. Reg A to C Reg D What is the amount of interest payable at December 31, Year 17 (Do not found intermediate calculations.) What is the amount of interest expense In Year 1? What is the amount of interest paid in Year 17 interest payable Amount of cash paid RegD> Reg A to C Reg D Use a horizontal statements model to show how each event affects the balance sheet income statement, and statement of cash flows. Indicate whether the event incr decreases (D) each element of the financial statements. In the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activitie financing activities (FA). Columns for events that have no effect on any of the elements should be left blank. The first transaction has been recorded as an example.( cells will require an input.) DARBY COMPANY Statements Model for Year 1 Balance Sheet Income Statement Statement of Cash Flows Event Assets Liabilities Stockholders' Equity Revenue Net Income Expense NO Notes Payable Interest Payable Common Stock Retained Earnings 1 2