On january 1, year 1, brown co borrowed cash from first bank by issuing a $69,000 face value, four year term note that had an 8 percent annual interest rate.

On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $69,000 face value, four-year term note tha had an 8 percent annual interest rate. The note is to be repaid by making annual cash payments of $20,833 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 $33,120 cash per year. Required Prepare an amortization schedule for the four-year period. (Round your answers to the nearest whole dollar amount.) b. Organize the information in accounts under an accounting equation. (Round your answers to the nearest whole dollar amount. Enter any decreases to account balances with a minus sign. If there is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells will require entry.) 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. Prepare the income statement for each of the four years. (Round your answers to the nearest whole dollar amount.) Complete this question by entering your answers in the tabs below. Prepare the balance sheet for each of the four years. (Round your answers to the nearest whole dollar amount.) Prepare the statement of cash flows for each of the four years. (Round your answers to the nearest whole dollar a Cash outflows should be indicated with a minus sign.) On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $69,000 face value, four-year term note had an 8 percent annual interest rate. The note is to be repaid by making annual cash payments of $20,833 that inc both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land generated revenues of $33,120 cash per year. d. Does cash outflow from operating activities remain constant or change each year? Remains constant Changes each year