Blue Spruce Corp. had the following long-term receivable account balances at December 31, 2016.

Cash inflows from notes 2017 2010 2019 2020 2021 90/} Note receivable Principal I Interest #`/'` Note receivable Principal Interest Non - interest- bearing note receivable Payment Instalment contract receivable* Down payment Payment 50/0 Note receivable Principal Interest Total Determine the amount of interest income that should be reported in 2017 . (Do not round intermediate calculations . Round als 29/6 Note Receivable ( Sale of Division;* $:9/6 Note Receivable ( Employees) Non - interest bearing note ( Patent* ; Instalment contract ( Sale of Land ; 59/0 Note Receivable ( Saini * Total Interest Income reported in 2017Determine the portion of the note and any interest that should be reported in current assets at December 31r 201?. f 9% Note Receivable {Sale of Division] $ 8% Note Receivable {Em plovees) $ Noninterest bearing note [Patent] $ Instalment contract [Sale of Land) is 6% Note Receivable {Saini} $ Total current notes and interest $ Determine the portion of the note that should be reported as a longterm investment at December 31I 201?. {Round 9% Note Receivable {Sale of Division] $ 8% Note Receivable {Em plovees) $ Noninterest bearing note [Patent] $ Instalment contract [Sale of Land) $ 6% Note Receivable {Saini} $ Total longterm investment $ Prepare the long-term receivables section of Blue's statement of financial position at December 31 , 2017 . ( Round answers to O decimal places , &.J. 8 , 971 . ) Blue Spruce Corp .` Long - Term Receivables Section of Statement of Financial Position $ Prepare a schedule showing the current portion of the long-term receivables and accrued interest receivable that would appear in Blue's statement of financial position at December 31 , 2017 . ( 2 . 9. 8, 971 . ) Blue Spruce Corp . selected Statement of Financial Position* Current portion of long-term receivables :" ACCRUEd interest receivable :" to'tDetermine the total interest income from the long -term receivables that would appear on Blue's income statement for the year ended December 31 , 2017 . ( Round answer to O decimal places , e .g . 8 , 971 . ) Total interest income for year ended 12 / 31 / 17\\ $Problem 79 Blue Spruce Corp. had the following long-ten'n receivable account balances at December 31, 2016. Notes receivable - Sale of division $1,785,900 Notes receivable , Employees 380,000 Transactions during 2017 and other information relating to Blue's longrterm receivablss were as follows: 1. The $1,785,900 note receivable is dated May 1, 2016, bears interest at 9%, and reprseients the balance of the consideration received from the sale of Blue's electronics division to Crane Company. Principal payments of $595,300 plus appropriate interest are due on May 1, 2017, 2018, and 2019. The rst principal and interest payment was made on May 1, 2017. Collection of the note instalments is reasonably assured. 2. The $380,000 note receivable is dated December 31, 2016, bears interest at 8%, and is due on December 31, 2019. The note is due from Marcia Cumby, president of Blue Spruce Corp., and is secured by 10,400 Blue's common shares. Interest is payable annually on December 31, and the interest payment was made on December 31, 2017. The quoted market price of Blue's common shares was $45 per share on December 31, 2017. 3. 0n Apn'l 1, 2017, Blue's sold a patent to Sheridan Company in exchange for a $201,000 noninterest-bearing note due on April 1, 2019. There was no established exchange price for the patent, and the note had no ready market. The prevailing rate of interest for a note of this type at April 1, 2017, was 12%. The present value of $1 for two periods at 12% is 0.79719 {use this factor). The patent had a carrying amount of $39,400 at January 1,2017, and the amortization for the year ended December 31, 2017 would have been $8,000. The collection ofthe note receivable from Sheridan is reasonably assured. 4. On July 1, 2017, Blue's sold a parcel ofland to Larkspur Inc. for $214,000 under an instalment sale contract. Larkspur made a $55,000 cash down payment on July 1, 2017, and signed a foureyear, 11% note for the $159,000 balance. The equal annual payments of principal and interest on the note will be $51,250, payable on July 1, 2019, through July 1, 2021. The land could have been sold at an established cash price of $200,000. The cost ofthe land to Blue's was $145,500. Collection of the instalments on the note is reasonably assured. 5. On August 1, 2017, Blue's agreed to allow its customer, Saini Inc., to substitute a six-month note for accounts receivable of $200,000 it owed. The note bears interest at 6% and principal and interest are due on the maturity date of the note. Click here to view the factor table present value of 1 Click here to view the factor table present value of an annuity of 1 The tables in this problem are to be used as a reference for this problem. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.)