Required Information [The following information applies to the questions displayed below.] On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $58,500 face value, four-year term note that had an 6 percent annual Interest rate. The note is to be repaid by making annual cash payments of $16,883 that include both Interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $31,590 cash per year. Required a. Prepare an amortization schedule for the four-year period. (Round your answers to the nearest whole dollar amount.) Year Principal Balance on January 1 $ 58.000 BROWN CO. Amortization Schedule Cash Payments Applied to December 31 Interest s 16.833 18,833 Applied to Principal Principal Balance End of Period Year 1 Year 2 Year 3 16.833 Year 4 16.833