Mark$$s on the Park $($MOP$)$ is a highly successful restaurant known for their weekend brunch. Given the success of the restaurant, one of Mark$$s friends, Mr$.$ Lowe, asked for some financial help to open a similar restaurant in a nearby town. The following events relate to the loan from MOP to Mr$.$ Lowe:

On March $1,$ Year $1,$ MOP loaned Mr$.$ Lowe $$60,000$ for one year at $5$ percent interest.

On December $31,$ Year $1,$ MOP recognized accrued interest on the loan.

On March $1,$ Year $2,$ MOP recognized accrued interest.

On March $1,$ Year $2,$ MOP recognized the collection of the note including all interest.

Required:

Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities $($OA$),$ investing activities $($lA$),$ or financing activities $($FA$).$ An example of a horizontal statements model is shown below: