2 Required information [The following information applies to the questions displayed below) On January 1, Year 1, Brown Company borrowed cash from First Bank by Issuing a $102,000 face value, four-year term note that had an 7 percent annual interest rate. The note is to be repaid by making annual cash payments of $30,113 that Include both Interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $54,000 cash per year. Required a. Prepare an amortization schedule for the four-year period. (Round intermediate calculations to nearest dollar amount. Round your answers to the nearest dollar amount.) ces BROWN COMPANY Amortization Schedule $102,000, 4-Year Term Note, 7% Interest Rate Principal Balance Cash Payment Applied to Applied to December 31 Interest Principal on January 1 Year Principal Balance End of Period Yeart Year 2 Year 3 Year 4 Required information Req B1 Reg B2 Reg B3 Reg B4 Prepare T-accounts for each of the four years. Rent revenue is collected in cash at the end of each year. (Select "el" for all the closing entr intermediate calculations and final answers to the nearest dollar amounts.) Land Cash Year 1 Year 1 Ending Balance Ending Balance Year 2 Ending Balance Year 3 Ending Balance Year 4 Ending Balance Retained Earnings Notes Payable Year 1 Year 1 Ending Balance Year 2 Ending Balance Year 2 Ending Balance Year 3 Ending Balance Year 3 Ending Balance Year 4 + Ending Balance Year 4 Ending Balance Ending Balance 2 Interest Expense Rent Revenue Year 1 Year 1 Ending Balance Year 2 Ending Balance Year 2 nces Ending Balance Year 3 Ending Balance Year 3 Ending Balance Year 4 Ending Balance Year 4 Ending Balance Ending Balance Reg 2 > Complete this question by entering your answers in the tabs below. of 2 Req B1 Req B2 Req B3 Req B4 Prepare an income statement for each of the four years. (Round your intermediate calculations and final ar nearest dollar amounts.) ook int BROWN COMPANY Income Statements For the Year Ended December 31 Year 1 Year 2 rences Year 3 Year 4 $ 0 $ 0 $ 0 $ amounts BROWN COMPANY Balance Sheets As of December 31 Year 1 Year 2 Year 3 Year 4 Assets s 0 $ 0 $ 0 $ 0 Total assets Liabilities Stockholders' equity Total liabilities and stockholders' equity 0 $ 0 $ 0 BROWN COMPANY Statements of Cash Flows For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Cash flows from operating activities 0 0 0 Net cash flow from operating activities: Cash flows from investing activities: 0 0 0 0 Net cash flow from investing activities Cash flows from financing activities: 0 0 0 0 Net cash flow from financing activities Net change in cash Ending cash balance $ 0 $ 0 $ 0 $