On January 1, Year 1, Dixon Company issued bonds with a $50,000 face value at 96. The bonds have a 10 year term and an 8% stated rate of interest. Interest is payable in cash on December 31 of each year. Assuming straight-line amortization, the amount of interest expense on the income statement for Year 1 is $ and the cash outflow from operating activities for Year 1 is $ (Enter your answers as whole numbers.)

On January 1, Year 1. Dixon Company issued bonds with a $50,000 face value at 96 . The bonds have a 10 year term and an 8% stated rate of interest. Interest is payable in cash on December 31 of each year. Assuming straight-line amortization, the amount of interest expense on the income statement for Year 1 is 5 and the cash outflow from operating activities for Year 1 is $ (Entec your onswes as whole number.)