Ch 10 Homework: See Modules for Zeigler Dem... 1 Saved Help Save & Exit Check my 3 A partial amortization schedule for a 10-year note payable issued on January 1, Year 1, is shown next. 1.25 points Accounting Period Year 1 Year 2 Year 3 Principal Balance January 1 $200,000 184,826 168, 742 Cash Payment $27, 174 27,174 27,174 Applied to Interest $12,000 11,090 10,125 Applied to Principal $15, 174 16,084 17,049 8 04:48:42 Required a. Using a financial statements model, record the appropriate amounts for the following two events: eBook Hint (1) January 1, Year 1, issue of the note payable. (2) December 31, Year 1, payment on the note payable. Print References b. If the company earned $62,000 cash revenue and paid $45,000 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. c. What is the amount of interest expense on this loan for Year 4? Req A Req B1 Req B2 Req B3 Reqc Using a financial statements model, record the appropriate amounts for the following two events: (1) January 1, Year 1, issue of the note payabl payment on the note payable. (In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activit blank to indicate no effect. Enter any decreases to account balances and cash outflows with a minus sign.) -48:27 Balance Sheet Financial Statements Model Income Statement Stockholders' Revenue Expenses Equity Event No. Statement of Cash Flows Assets = ok Liabilities + Net Income 1. + 200,000 FA nt 200,000 = (27,174) 200,000 (15,174) 2. (12,000) 12,000 (15,174) FA at nces Rega Req B1 > Req A Req B1 Req B2 Req B3 ReqC If the company earned $62,000 cash revenue and paid $45,000 in cash expen the amount of net income for Year 1? Revenue $ 62,000 Expenses 8:17 45,000 12.000 Operating expenses Interest expense Total expenses Net income (57,000) 5,000 $ zes