A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, Year 1, is shown as follows. Accounting Period Year 1 Principal Balance January 1 $130,000 Cash Payment Applied to Applied to Interest Principal $31,706 $9,100 $22,606 Year 2 Year 3 107,394 83,206 31,706 7,518 24,188 31,706 5,824 25,882 Required a. What rate of interest is Mabry Company paying on the note? b. Using a financial statements model like the one shown, 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. c. If the company earned $94,000 cash revenue and paid $56,400 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. d. What is the amount of interest expense on this loan for Year 4? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What rate of interest is Mabry Company paying on the note? Rate of interest % Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Using a financial statements model like the one shown, record the appropriate amounts for the following two events: (Enter any de account balances and cash outflows with a minus sign. In the Cash Flows column, designate the cash flows as operating activities activities (IA), financing activities (FA), or if there is no effect, leave the cell blank. Not all cells will require entry.) (1) January 1, Year 1, issue of the note payable. (2) December 31, Year 1, payment on the note payable. MABRY COMPANY Horizontal Statements Model Balance Sheet Income Statement Event No. Assots =Liabilities Stockholder's Equity Revenue Expense Net Income Statement of Cash Flow 1. + 2. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D If the company earned $94,000 cash revenue and paid $56,400 in cash expenses in addition to the interest in Year 1, what is the amount of each of the following? (Cash outflows should be indicated with a minus sign.) (1) Not income for Year 1 (2) Cash flow from operating activities for Year 1 (3) Cash flow from financing activities for Year 1 Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What is the amount of interest expense on this loan for Year 4? (Round your answers to the nearest whole dollar amount.) Interest expense