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I cannot figure out how to figure out how much cash and land each year??? Required information [The following information applies to the questions displayed
I cannot figure out how to figure out how much cash and land each year???
Required information [The following information applies to the questions displayed below.] On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $100,000 face value, four-year term note that had an 8 percent annual interest rate. The note is to be repaid by making annual cash payments of $30,192 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $52,000 cash per year. c. Prepare an income statement, a balance sheet, and a statement of cash flows for each of the four years. Complete this question by entering your answers in the tabs belowStep by Step Solution
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