On January 1, Year 1, Beatie Company 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.) BEATIE COMPANY Amortization Schedule $210,000, 5-Year Term Note, 7% Interest Rate Principal Cash Payments Year Balance December 31 on January 1 Year 1 Year 2 Year 3 Year 4 Year 5 Applied to Interest Principal Applied to Principal Balance End of Period