nces A partial amortization schedule for a 10-year note payable issued on January 1, Year 1, is shown next: Accounting Period Principal Balance January 1 Cash Applied to Applied to Payment Interest Principal Year 1 $400,000 $51,802 $20,000 $31,802 Year 2 368,198. 51,8021 18,410 33,392 Year 3 334,806 51,802 16,740 35,062 Required a. Using a financial statements model, record the appropriate amounts for the following two events: (1) January 1, Year 1, Issue of the note payable. (2) December 31, Year 1, payment on the note payable. b. If the company earned $102,000 cash revenue and paid $65,000 in cash expenses in addition to the interest in Year 1, 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? Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B31 Required C mg your inswers in the tabs below. Required A Required B1 Required B2 Required 831 Required C Using a financial statements model, record the appropriate amounts for the following two events: (1) January 1, Year 1, Issue of the note payable. (2) December 31, on the note payable. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA require Input. Amounts to be deducted and cash outflows should be indicated with a minus sign.) Financial Statements Model Balance Sheet Income Statement Event No. Assets Liabilities Stockholders Equity Statement of Cash Flows Revenue Expenses Net Income WO 1 2 . Required A Required B1 > Book Hint Print c. What is the amount of interest expense on this loan for Year 4? Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 equired B3 Required C If the company earned $102,000 cash revenue and paid $65,000 in cash expenses in addition to the interest in Year 1, what is the amount of Net income for Year 17 erences Expenses Total expenses c. What is the amount of interest expense on this loan for Year 4? Complete this question by entering your answers in the tabs below. Required A Required B1 Require B2 Required 83 Required C If the company earned $102,000 cash revenue and paid $65,000 in cash expenses in addition to the interest in Year is the amount of Cash flow from operating activities for Year 17 (Amounts to be deducted and cash outflows should be indicated with minus sign.) Cash flows from operating activities! Net cash flow from operating activities c. What is the amount of interest expense on this loan for Year 4? Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required C If the company earned $102,000 cash revenue and paid $65,000 in cash expenses in addition to the interest in Y is the amount of Cash flow from financing tivities for Year 1? (Amounts to be deducted should be indicated with sign.) Cash flows from financing activities. Net cash flow from financing activities Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required C What is the amount of interest expense on this loan for Year 4? (Round your answer to the nearest dollar a Interest expense