please show work if able

On January 1, 20X4, Charms Corporation sold 10% bonds having a maturity value of $700,000. The market determined that 12% was the appropriate rate of interest, given the risks that Charms Corporation poses to bondholders. The bonds are dated January 1, 20X4, mature January 1, 20x9, and pay interest on June 30 and December 31 of each year. Charms Corporation does not elect to report its liabilities at fair market value. Ignore taxes for this assignment. Required: 1- Determine the amount that bondholders investors) will pay Charms Corporation for these bonds when the bonds are issued on January 1, 20X4. 2- Prepare an amortization schedule for the bond issue using the effective interest method. 3- Prepare the following 20X4 financial statements for Charms Corporation: Statement of Cash Flows Income Statement *Balance Sheet 4- Prepare the following 20X6 financial statements for Charms Corporation: Statement of Cash Flows Income Statement *Balance Sheet * When preparing the balance sheets for 20x4 and 20x6 list the bond payable at the face value of the bond, and list the any remaining discount or premium on the bond separately. Similar to the format used in the pdf files of the handouts posted on Canvas, under the Module named Financing Decisions - Debt. Requirement 1 Friendly reminder: For this assignment, you must use the Present Value Tables found at the end textbook to calculate the price of the bond. In the space below, show how you determined the price of the bond. You must show the rates name of the tables where you found the rates. For example, Present value of $1. n= i= PV of Interest Payments: PV of Face (maturity) Value of Bond: Price of Bond Requirement 2 Amortization of Cash Interest Effective Discount or Date Payments Interest Premium 1/1/X4 6/30/X4 12/31/X4 *Amortized Cost is often referred to as the Carrying Value of the Bond. * Amortized Cost