A partial amortization schedule for a 10-year note payable issued on January 1, Year 1, is shown next: Accounting Period Year 1 Year 2 Year 3 Principal Balance January 1 $380, eee 349,788 318,065 Cash Payment $49,212 49,212 49,212 Applied to Interest $19, eee 17,489 15,903 Applied to Principal $38,212 31,723 33,309 Required a. Using a financial statements model like the one shown next, 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 $98,000 cash revenue and paid $63,000 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? Required A Required B1 Required B2 Required B3 Required Using a financial statements model like the one shown next, record the appropriate amounts for the following two events: (1) Janu the note payable. (2) December 31, Year 1, payment on the note payable. (In the Statement of Cash Flows column, use the initials operating activity, IA for investing activity, FA for financing activity and NA to indicate the element is not affected by the event. Ent account balances with a minus sign.) Effect of Transactions on Financial Statements Balance Sheet Income Statement Assets - Liabilities + Equity Revenue - Expenses = Net Income Event No. Flows If the company earned $98,000 cash revenue and paid $63,000 in cash expenses in addition to the interest in Year 1, what is the amount of Net income for Year 1? Exponses Total expenses if the company earned $98,000 cash revenue and paid $63,000 in cash expenses in addition to the interest in Year 1, what is the amount of Cash flow from operating activities for Year 1? (Amounts to be deducted should be indicated with minus sign.) Cash flows from operating activities: Net cash flow from operating activities If the company earned $98,000 cash revenue and paid $63,000 in cash expenses in addition to the interest in Year 1, what is the amount of Cash flow from financing activities for Year 1? (Amounts to be deducted should be indicated with minus sign.) Cash flows from financing activities: Net cash flow from financing activities What is the amount of interest expense on this loan for Year 4? (Round your answer to the nearest dollar amount............ Interest expense