accounting

Use the information below to answer questions 4 through 6 Arlington Co. is constructing a building. Construction began on January 1st and completed on December 31. Expenditures were $2,400,000 on March 1, $1,980,000 on June 1, and $3,000,000 on December 31. Debt Outstanding for Construction $1,200,000 on January 1 on a 5-year, 12% note payable. General Debt outstanding 10%, 3-year, $1,400,000 note payable 12%, 4-year, $4,600,000 note payable. Other information Interest revenues of $25,000 earned from specific borrowing Interest expense to report in the income statement is (nearest $1)