A partial amortization schedule for a 10-year note payable issued on January 1, Year 1, is shown next. Hequired 0. Using a financial statements model, record the appropriate arnounts 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 $84,000 cash revenue and paid $56,000 in cosh 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 ? Complete this question by entering your answers in the tabs below. 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. (in the statement of cash. Fiows colump use the initiale of ro designate operating acthity, IA for investing activity, Fa Complete this question by entering your answers in the tobs below. Using a financial staternents model, record the appropiate amounts for the following two events: (1) danuary 1, Year 1, issue of the note payable. (2) December 31. Year 1, payment on the note payable. (th the Statement of Cash Flows column, use the in tialif on to designate operating activity th for investing activity, FA for financing activity and leave blank to indicate no effect. Enter any decreases to account balances and cash outfows with a minus sion.) Complete this question by entering your answers in the tabs below. If the company earned $84,000 cash revenue and paid $56,000 in cash expenses in addition to the interest in Year 1 , what the amount of Net income for Year 1 ? c. What is the amount of interest expense on this loan for Year 4 ? Complete this question by entering your answers in the tabs below. If the company earned $84,000 cash revenue and paid $56,000 in cash expenses in addition to the interest in Year 1 , what is the amount of cash flow from operating activities for Year 1 ? (Cash outflows should be indicated with a minus sign.) (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 ? Complete this question by entering your answers in the tabs below. If the company earned $84,000 cash revenue and paid $56,000 in cash expenses in addition to the interest in Year 1 , what is the amount of cash flow from financing activities for Year 1 ? (Cash outflows should be indicated with a minus sign.) b. If the company earned $84,000 cash revenue and paid $56,000 in cash expenses in addition to the interest in Year 1 , wha 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? Complete this question by entering your answers in the tabs below. What is the amount of interest expense on this loan for Year 4? (Do not round intermediate calculations. Found your answer to the nearest dollar amount.)
