Required a. Use a financial statements model like the one shown below to demonstrate how (1) the January 1 Year 1 bond issue and (2) the December 31 Year 1 recognition of Interest expense, including the amortization of the premium and the cash payment, affects the company's financial statements. Use + for increase, - for decrease, and if there is no effect. leave the cell blank b. Determine the carrying value (face value less discount or plus premium) of the bond liability as of December 31, Year 1, c. Determine the amount of interest expense reported on the Year 1 income statement d. Determine the carrying value of the bond liability as of December 31, Year 2 e. Determine the amount of interest expense reported on the Year 2 income statement Complete this question by entering your answers in the tabs below. ROGA Reg 0 tot b. Determine the carrying value (face value less discour or plus premium of the bond liability as of December 31, Year 1. c. Determine the amount of interest expense reported on the Year 1 income statement d. Determine the carrying value of the bond liability as of December 31, Year 2 e. Determine the amount of interest expense reported on the Year 2 income statement Show 5 3040 Carrying value Your 1 cintecost expense Year d. Carrying a Year 2 entrepen Your2 . 16 The Square Foot Grill, Inc. issued $152,000 of 10-year, 6 percent bonds on January 1, Year 1. at 102. interest is payable in cash annually on December 31. The straight-line method is used for amortization Required a. Use a financial statements model like the one shown below to demonstrate how (1) the January 1, Year 1, bond issue and (2) the December 31, Year 1, recognition of interest expense, including the amortization of the premium and the cash payment, affects the company's financial statements. Use + for increase - for decrease, and if there is no effect, leave the cell blank. b. Determine the carrying value (face value less discount or plus premium) of the bond liability as of December 31 Year 1 c. Determine the amount of interest expense reported on the Year 1 income statement d. Determine the carrying value of the bond liability as of December 31. Year 2 e. Determine the amount of interest expense reported on the Year 2 income statement Complete this question by entering your answers in the tabs below. Reg Reg tot b. Determine the carrying value (face value less discount or plus premium) of the bond liability as of December 31, Year 1. S. Determine the amount of interest expense reported on the Year 1 Income statement. d. Determine the carrying value of the bond liability as of December 31, Year 2 e. Determine the amount of interest expense reported on the Year 2 income statement. Show less 5 3.040 b. Cartying value Year 1 Crest expense Year 1 Id Carrying value Year 2 C Taw Ponu 720 113 Nove