Grocery Corporation sold $540,000,8 percent notes on January 1 of this year at a market rate of 9 percent. The notes were dated also on January 1 with interest to be paid each December 31, they mature in 10 years. Use effective interest amortization and a discount account. Use effective interest amortization. Use Table 901. Table 9C2. Required 1. This part of the question is not part of your Connect assignment. 2. This part of the question is not part of your Connect assignment 3. Show how the interest expense, interest payment, and notes payable should be reported on the financial statements for this year, (Round time value factor to 4 decimal places. Round intermediate and final answers to the nearest whole dollar) S.SHOW how the resrexpense, interest paymencarrumores payable should be reported on the financial statements for this year (Round time value factor to 4 decimal places. Round intermediate and final answers to the nearest whole dollar.) GROCERY CORPORATION Financial Statements For year ended December 31 Statement of earnings Statement of financial position Long-term liabilities $ 0 Statement of cash flows: Thompson Corporation is planning to issue $260,000, five-year 5 percent bonds. Interest is payable semi-annually each June 30 and December 31. All of the bonds will be sold on July 1, year 1, they mature on June 30, year 6. Use Table 9C1. Table 90.2 Compute the issue (sale) price on July 1, year 1, if the yield is (Round time value factor to 4 decimal places. Round the final answers to the nearest dollar amount.) Issue price (a) 5 percent (b) 2 percent (c) 6 percent Eagle Corporation issued $9.540,000, 5 percent bonds dated April 1 year 1. The market rate of interest was 6 percent, with interest paid each March 31. The bonds mature in three years, on March 31. year 4 Eagle's fiscal year ends on December 31 Use Table 9.1. Table 902 Required: 1. What was the issue price of these bonds? (Round time value factor to 4 decimal places. Round the final answer to the nearest whole dollar) Bond issur price 2. Compute the bond interest expense for the fiscal year ended December 31, year 1. The co any uses the effective interest method of amortization without a discount account. (Round time value foctor to 4 decimal places. Round intermediate and final answer to the nearest whole dollar) Interest expense 3. Show how the bonds should be reported on the statement of financial position at December 31, year 1 (Round intermediate and final answer to the nearest whole dollar.) EAGLE CORPORATION As of December 31, Year 1 Statement of financial position 4-a. What amount of interest expense will be recorded on March 31, year 2? (Round time value foctor to a decimal places. Round the final answer to the nearest dollar amount.) Interest expense 4-6. Is this amount different from the amount of cash that is paid? Yes O NO TABLE 9C.1 Present Value of $1, p = 1/(1+)" TO ON 6 Periods 1.5% 1.75% 2% 2.25% 2.5% 2.75% 3% 3.25% 3.5% 1 0.9852 0.9828 0.9804 0.9780 0.9756 0.9732 0.9709 0.9685 0.9662 2 0.9707 0.9659 0.9612 0.9565 0.9518 0.9472 0.9426 0.9380 0.9335 3 0.9563 0.9493 0.9423 0.9354 0.9286 0.9218 0.9151 0.9085 0.9019 4 0.9422 0.9330 0.9238 0.9148 0.9060 0.8972 0.8885 0.8799 0.8714 020/rr.imt.bby 0.00 0.8020 VISDZ 2520 6 0.9145 0.9011 0.8880 0.8750 0.8623 0.8498 0.8375 0.8254 0.8135 7 0.9010 0.8856 0.8706 0.8558 0.8413 0.8270 0.8131 0.7994 0.7860 8 0.8877 0.8704 0.8535 0.8369 0.8207 0.8049 0.7894 0.7742 0.7594 9 0.8746 0.8554 0.8368 0.8185 0.8007 0.7834 0.7664 0.7499 0.7337 10 0.8617 0.8407 0.8203 0.8005 0.7812 0.7624 0.7441 0.7263 0.7089 11 0.8489 0.8263 0.8043 0.7829 0.7621 0.7420 0.7224 0.7034 0.6849 12 0.8364 0.8121 0.7885 0.7657 0.7436 0.7221 0.7014 0.6813 0.6618 13 0.8240 0.7981 0.7730 0.7488 0.7254 0.7028 0.6810 0.6598 0.6394 14 0.8118 0.7844 0.7579 0.7323 0.7077 0.6840 0.6611 0.6391 0.6178 15 0.7999 0.7709 0.7430 0.7162 0.6905 0.6657 0.64190.6189 0.5969 16 0.7880 0.7576 0.7284 0.7005 0.6736 0.6479 0.6232 0.5995 0.5767 17 0.7764 0.7446 0.7142 0.6851 0.6572 0.6305 0.6050 0.5806 0.5572 18 0.7649 0.7318 0.7002 0.6700 0.6412 0.6137 0.5874 0.5623 0.5384 19 0.7536 0.7192 0.6864 0.6552 0.6255 0.5972 0.5703 0.5446 0.5202 20 0.7425 0.7068 0.6730 0.6408 0.6103 0.5813 0.5537 0.5275 0.5026 30 0.6398 0.5942 0.5521 0.5130 0.4767 0.4431 0.4120 0.3831 0.3563 40 0.5513 0.4996 0.4529 0.4106 0.3724 0.3379 0.3066 0.2782 0.2526 50 0.4750 0.4200 0.3715 0.3287 0.2909 02576 0.2281 0.2021 0.1791 Periods 3.75% 4% 4.50% 500 60 04 O 0.7049 0.7318 0.7002 0.5874 0.0700 0.0412 W.0137 U.DOZ3 18 0.584 19 0.7536 0.7192 0.6864 0.6552 0.6255 0.5972 0.5703 0.5446 0.5202 20 0.7425 0.7068 0.6730 0.6408 0.6103 0.5813 0.5537 0.5275 0.5026 30 0.6398 0.5942 0.5521 0.5130 0.4767 0.4431 0.4120 0.3831 0.3563 40 0.5513 0.4996 0.4529 0.4106 0.3724 0.3379 0.3066 0.2782 0.2526 50 0.4750 0.4200 0.3715 0.3287 0.2909 0.2576 0.2281 0.2021 0.1791 Periods 3.75% 4% 4.5% 5% 6% 7% 8% 9% 10% 1 0.9639 0.9615 0.9569 0.9524 0.9434 0.9346 0.9259 0.9174 0.9091 2 09290 0.9246_091570.9070.0.8900 0.8734 0.8573 0.8417 0.8264 3 0.8954 0.8890 0.8763 0.8638 0.8396 0.8163 0.7938 0.7722 0.7513 4 0.8631 0.8548 0.8386 0.8227 0.7921 0.7629 0.7350 0.7084 0.6830 5 0.8319 0.8219 0.8025 0.7835 0.7473 0.7130 0.6806 0.6499 0.6209 6 0.8018 0.7903 0.7679 0.7462 0.7050 0.6663 0.6302 0.5963 0.5645 7 0.7728 0.7599 0.7348 0.7107 0.6651 0.6227 0.5835 0.5470 0.5132 8 0.7449 0.7307 0.7032 0.6768 0.6274 0.5820 0.5403 0.5019 0.4665 9 0.7180 0.7026 0.6729 0.6446 0.5919 0.5439 0.5002 0.4604 0.4241 10 0.6920 0.6756 0.6439 0.6139 0.5584 0.5083 0.4632 0.4224 0.3855 11 0.6670 0.6496 0.6162 0.5847 0.5268 0.4751 0.4289 0.3875 0.3505 12 0.6429 0.6246 0.5897 0.5568 0.4970 0.4440 0.39710.3555 0.3186 13 0.6197 0.6006 0.5643 0.5303 0.4688 0.4150 03677 0.3262 0.2897 14 0.5973 0.5775 0.5400 0.5051 0.4423 0.3878 0.34050.29920.2633 15 0.5757 0.5553 0.5167 0.4810 0.4173 0.3624 0.3152 0.2745 0.2394 16 0.5549 0.5339 0.4945 0.4581 0.3936 0.3387 0.2919 0.2519 0.2176 17 0.5348 0.5134 0.4732 0.4363 0.3714 0.3166 0.2703 0.2311 0.1978 18 0.5155 0.4936 0.4528 0.4155 0.3503 0.2959 0.2502 0.2120 0.1799 19 0.4969 0.4746 0.4333 0.3957 0.3305 0.2765 0.2317 0.1945 0.1635 20 0.4789 0.4564 0.4146 0.3769 0.3118 0.2584 0.2145 0.1784 0.1486 30 0.3314 0.3083 0.2670 0.2314 0.1741 0.1314 0.0994 0.0754 0.0573 40 0.2293 0.2083 0.1719 0.1420 0.0972 0.0668 0.0460 0.0318 0.0221 50 0.1587 0.1407 0.1107 0.0872 0.0543 0.0339 0.0213 0.0134 0.0085