Abardeen Corporation borrowed $118,000 from the bank on October 1. 2018. The note had an 6 percent annual rate of interest and matured on March 31, 2019. Interest and principal were paid in cash on the maturity date. Required a. What amount of cash did Abardeen pay for interest in 2018? b. What amount of interest expense was recognized on the 2018 Income statement? c. What amount of total liabilities was reported on the December 31, 2018, balance sheet? d. What total amount of cash was paid to the bank on March 31, 2019, for principal and Interest? e. What amount of interest expense was reported on the 2019 income statement? (For all requirements, Do not round Intermediate calculations and round your final answer to nearest whole dollar amount.) a. Interest expense paid b. Interest expense c. Total liabilities d. Amount of cash e. Interest expense City Taxi Service purchased a new auto to use as a taxi on January 1, 2018, for $25,000. In addition, City paid sales tax and title fees of $650 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $6,250. Required a. Using the straight-line method, compute the depreciation expense for 2018 and 2019. (Round your answers to the nearest whole dollar amount.) b. Assume the van was sold on January 1, 2020, for $20,574. Determine the amount of gain or loss that would be recognized on the asset disposal. (Amounts to be deducted should be indicated with minus sign. Round the Intermediate calculations to nearest whole dollar amount.) a. 2018 Depreciation 2019 Depreciation b. per year Jon sale