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On May 1. Year 1, Benz's Sandwich Shop loaned $10,000 to Mark Henry for one year at 6 percent interest. Required a. What is Benz's

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On May 1. Year 1, Benz's Sandwich Shop loaned $10,000 to Mark Henry for one year at 6 percent interest. Required a. What is Benz's interest income for Year 1? b. What is Benz's total amount of receivables at December 31, Year 1? c. How will the loan and interest be reported on Benz's Year 1 statement of cash flows? d. What is Benz's interest income for Year 2? e. What is the total amount of cash that Benz's will collect in Year 2 from Mark Henry? f. How will the loan and interest be reported on Benz's Year 2 statement of cash flows? g. What is the total amount of Interest that Benz's earned on the loan to Mark Henry? a. Interest income b. Receivables C d. Interest income - Cash g. Interest eamed b. Based on this information alone, answer the following questions: (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? (1) Total assets (2) Revenue recognized (3) Cash flow from operating activities

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