A partial amortization schedule for a 10-year note payable issued on January 1, Year 1, is shown next. Accounting Principal Balance Applied to Applied to Period January 1 Cash Payment Interest Principal Year 1 $390,000 $50,507 $19,500 $31,007 Year, 2 358,993 50,507 17,950 32,557 Year 3 326, 436 50,507 16,322 34,185 Required a. Using a financial statements model, record the appropriate amounts for the following two events: (1) January 1 Year 1, Issue of the note payable. (2) December 31. Year 1. payment on the note payable. b. If the company earned $100,000 cash revenue and paid $64,000 in cash expenses In addition to the interest in Year 1, what is the amount of each of the following? (1) Net Income for Year 1. * (2) Cash flow from operating activities for Year 1 (3) Cash flow from financing activities for Year 1. c. What is the amount of interest expense on this loan for Year 4? Reg A Req B1 Reg B2 Reg B3 Reqc Using a financial statements model, record the appropriate amounts for the following two events: (1) January 1, Year 1, Issue of the note payable. (2) 31, Year 1, payment on the note payable. (In the Statement of Cash Flows column, use the initials oa to designate operating activity, IA for investing an for financing activity and leave blank to indicate no effect. Enter any decreases to account balances and cash outflows with a minus sign) Shou Balance Sheet Financial Statements Model Income Statement Stockholders' Revenue Equity Expenses - Net Income Event No. Statement of Cash Flows Assets Liabilities 1. 2 Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Req C If the company earned $100,000 cash revenue and paid $64,000 in cash expenses is the amount of Net income for Year 1? Expenses Total expenses Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Reqc If the company earned $100,000 cash revenue and paid $64,000 in cash expenses in ado is the amount of cash flow from operating activities for Year 1? (Cash outflows should be Cash flows from operating activities: Net cash flow from operating activities Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Req C If the company earned $100,000 cash revenue and paid $64,000 in cash expenses in a is the amount of cash flow from financing activities for Year 1? (Cash outflows should be Cash flows from financing activities: Net cash flow from financing activities Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 ReqC What is the amount of interest expense on this loan for Year 4? (Do not round intermediate ca to the nearest dollar amount.) Interest expense