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 Year 2 Year 3 Principal Balance January 1 $ 138,000 114,477 89,072 Cash Payment $ 34,563 34,563 34,563 Applied to Interest $11,040 9,158 Applied to Principal $ 23,523 25, 405 27,437 7,126 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 $81,500 cash revenue and paid $48,900 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 Using a financial statements model like the one shown, record the appropriate amounts for the following two events: (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flows column, designate the cash flows as operating activities (OA), investing 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. Show less A Event No. MABRY COMPANY Horizontal Statements Model Balance Sheet Income Statement Liabilities Stockholder's Revenue Expense = Net Income Equity 138,000 (23,523) (11,040) 11,040 (11,040) Statement of Cash Flow Assets 1. 138,000 138,000 FA (34,563) FA 2. (34,563)