Required information [The following information applies to the questions displayed below.] On January 1, Year 1, Mayberry Company borrowed cash from Central Bank by issuing a $81,500 face value 3-year installment note payable that carried a 9% interest rate. The note is to be repaid by making annual cash payments of $32,196.96, which includes both principal and interest. The payments are to be made on December 31 of each year. Required: a) Prepare an amortization schedule for the term of the loan, showing the amounts to be paid on principal and interest for Year 1, Year 2 , and Year 3 and the loan balance at the end of each year. Note: Enter all your values as positive values. Round your answers to 2 decimal places. To fully liquidate the liability, the final payment may need to be adjusted slightly because of rounding differences. Required information [The following information applies to the questions displayed below.] Marvin Corporation issued $570,000 of 7\%, 10-year bonds for 97 on January 1, Year 1. Interest is payable annually on December 31. The company uses the straight-line method to amortize bond discounts and premiums. Required: a) Prepare the liabilities section of the balance sheet at December 31, Year 1. Required: b) Determine the amount of interest expense reported on the Year 1 income statement