On January 1, Year 1, Beatie Co. borrowed $210,000 cash from Central Bank by issuing a five-year, 7 percent note. The principal and interest are to be paid by making annual payments in the amount of $51,217. Payments are to be made December 31 of each year, beginning December 31, Year 1. Required Prepare an amortization schedule for the interest and principal payments for the five-year period. (Round your answers to the nearest dollar amount.) BLAME C Amortization Schedule Year Principal Balance on Cash Payments Applied to Interest January 1 Applied to Principal Principal Balance End of December 31 Period Year 1 Year 2 Year 3 Year 4 Year 5