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Problem 9-19A (Algo) Effect of occrued interest on financial stotements LO 9-1 Maico Enterpeises issued $21,000 of common stock when the company was started in

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Problem 9-19A (Algo) Effect of occrued interest on financial stotements LO 9-1 Maico Enterpeises issued $21,000 of common stock when the company was started in eddition. Malco borrowed $47,000 from s local bank on July 1, Year 1 The note had a 6 percent annual interest rate and a one-yeor term to maturiby Makco Enterprises recopnized $84,600 of revenue on account in Year 1 and $96,200 of revenue on account in Year 2 Cash colections of accounts recevable were $72,300 in Year 1 and $82.500 in Year 2 . Makco paid $48,900 of other operating expenses in Year 1 and $56,000 of other operating expenses in Year? Maico repoid the loan and interest at the muturity date Required Based on this informanion piven above, tecord the events in the accounting equation and answer the following questions: a. What amours of inserest expense would Malco report on the Year 1 income statement? b. What anount of net cash flow flom operating activities would Malco tegort on the Year 1 statement of cash flows? c. What amount of total liabilines would Malco foport on the Decentier 31 Vear 1 balance sheet? d. What amount of retained earnings would Mako report on the December 31 , year 1 , balance sheet? e. What amount of net cash flow hom finarcing ectwbes would Maico report on the rear 1 statement of cash flows? i. What amount of interest experse would Muko report on the Year 2 income statement? 9. What amount of net cash flow from cperating ectiveies would Makco ieport on the tear 2 satement of cash flows? h. What anount of fotal assets would Maco report on the December 3t. Year 2, balance shees? 1. What amourt of net cash flow from moesting activities would Molco report on the Year 2 statement of cash fons? 1.If Maico Enterprses paid a \$3,100 dividend during Year 2 whut retained earnirgs balance would a report on the Deceirber 31, Yeat 2. balance sheet? Complete this question by entering your answers is the tabs betow

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