On December 1, 2006, Garden Corporation incurs a 30-year, $400,000 mortgage liability upon purchase of a warehouse. This mortgage is payable in monthly installments of $4,116, which include interest computed at the rate of 12% per year. The first monthly payment is made on December 31, 2006. 1. How much of the first payment made on December 31, 2006, is allocated to repayment of principal? 2. What is the total liability related to this mortgage to be reported in Gardens