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Required informotion [The following information applies to the questions displayed below] On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing
Required informotion [The following information applies to the questions displayed below] On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $48,500 face value, four-year term note that had an 5 percent annual interest rate. The note is to be repaid by making annual cash payments of $13.678 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 $24,735 cash per year: Chapter 7 Application (i) Required infornation \begin{tabular}{|c|c|c|c|c|c|} \hline \multirow{4}{*}{ Part 3 or 4} & \multicolumn{5}{|c|}{ BROWN COMPANY } \\ \hline & \multicolumn{5}{|c|}{ Statement of Cash Flows } \\ \hline & \multicolumn{5}{|c|}{ For the Year Ended December 31} \\ \hline & & Year 1 & Year 2 & Yeat 3 & Year 4 \\ \hline \multirow{3}{*}{909Doints} & \multicolumn{5}{|l|}{ Cosh flown from operating activities } \\ \hline & & & & & \\ \hline & & & & - & \\ \hline \\ \hline Prim & Ner cash flow from operaing accivibes & 0 & 0) & 0 & 0 \\ \hline \multirow[t]{11}{*}{ Anterenices } & \multicolumn{5}{|l|}{ Cash flows from investing activities } \\ \hline & & & & & \\ \hline & Net cash fows from investing activities & 9 & 0 & 0 & 0 \\ \hline & Cash flows from financing activeties & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & + & & & & \\ \hline & Net cash flows from Enancing activiles & 0 & 0 & 0 & 0 \\ \hline & Net change in cash & 0 & 0 & 0 & 0 \\ \hline & - & 1 & & 7 & \\ \hline & Ending cash balance & 5 & 5 & 0 & a \\ \hline \end{tabular} Required Information [The following information applies to the questions displayed below.] On January 1, Year 1, Brown Company borrowed cash from First Bank by issulng a $48,500 face value, four-year term note that had an 5 percent annual Interest rate. The note is to be repald by making annual cash payments of $13,678 that Include both Interest and princlpal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $24,735 cash per year. c. Prepare an Income statement, a balance sheet, and a statement of cash flows for each of the four years. Complete this question by entering your answers in the tabs below. Prepare the income statement for each of the four years. Note: Round your answers to the nearest whole dollar amount. Required information 9.09 Doints ebook Pring Aeterences Pert 3 of 4 Pensoti \begin{tabular}{|c|} \hline ebook \\ \hline Pring \\ \hline References \\ \hline \end{tabular} BROWN COMPANY Bolance Sheet As of December 31 \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline \multirow{2}{*}{ Assets } & \multicolumn{2}{|c|}{ Year 1} & \multicolumn{2}{|c|}{ Year 2} & \multicolumn{2}{|c|}{ Year 3} & \multicolumn{2}{|c|}{ Year 4} \\ \hline & & \multirow[b]{2}{*}{$} & \multirow[b]{2}{*}{48.500} & \multirow[b]{2}{*}{5} & \multirow[b]{2}{*}{48,500} \\ \hline Land & 5 & 48,500 & 5 & 48,500 & & & & \\ \hline \multicolumn{9}{|l|}{ Cash } \\ \hline & & & & & & & & \\ \hline Total assets & 5 & 48,500 & $ & 48.500 & & 48.500 & & 48,500 \\ \hline \multicolumn{9}{|l|}{ Liabilitios } \\ \hline \multicolumn{9}{|l|}{ Noles payable } \\ \hline & & & & & & & & \\ \hline Total liabilities & & 0 & & & & 0 & & 0 \\ \hline \multicolumn{9}{|l|}{ Stockholders' Equity } \\ \hline Retained earnings & & & & & & \multicolumn{3}{|c|}{$} \\ \hline & & & & & & & & \\ \hline Total stockholdars' equity & & 0 & & 0 & & 0 & & 0 \\ \hline Total liabilities and stockholders' equily & 5 & 0 & 5 & 0 & s & 0 & 5 & 0 \\ \hline \end{tabular}
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