On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $63,500 face value, four-year term note that had an 7 percent annual Interest rate. The note is to be repaid by making annual cash payments of $18,747 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 $30,480 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 below. Reg C Inc Stmt Reg C Bal Sheet ReqC OF SEM Prepare the balance sheet for each of the four years. (Round your answers to the nearest whole dollar amount.) BROWN CO. Balance Sheet As of December 31 2018 2010 2020 2021 Assets Cash Land 0 05 0 0 0 0 $ 0 $ 0 Total assets Liabilities Notes payable Retained earnings Totat labities Stockholders' Equity 0 0 0 0 O 0 0 0 OS To stockholders' equity Totables and stockholders' equily 0 $ 0$ 05 Red Cine Stat Rua C CFS On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $63,500 face value, four-year term note that had an 7 percent annual Interest rate. The note is to be repaid by making annual cash payments of $18,747 that include both Interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase Innd that generated rental revenues of $30,480 cash per year. 4 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 below. ok nt Req Inc Reg C Simt Sheet Req C CF Stmt Prepare the statement of cash flows for each of the four years. (Round your answers to the nearest whole dollar amount. Amounts to be deducted should be indicated with a minus sign.) ances BROWN CO Btatement of Cash Flows For the Year Ended December 31 2018 2019 Cash flows from operating activities 2020 2021 0 0 Net cash fow from operating activites Cash flows from investing activities 0 Net cash flows from investing activities Cash flows from financing activities 0 0 0 0 0 0 0 0 Not can fows from financing activities Ne changes 0 0 05 0 Ending cash and Next >