Starting a company on the last day of the fiscal year, $2023$

Annual Interest Rate $202320242025202620272028$

$1.$ Line of Credit Balance, end of year $10\mathrm{.}00\%$ $$10,000$ $$12,000$ $$14,000$ $$16,000$ $$18,000$ $$20,000$

$2.$ Furn. Fix. And Equipment $($FF&E$)$ Loan, paid down at $$2,000$ per year, balloons$/$matures in $20289\mathrm{.}00\%$ $$20,000$

$3.$ Mortgage Loan, Interest Only, Matures in $20308\mathrm{.}00\%$ $$100,000$

Tasks

$1.$ Calculate the interest expense, place on income statement

$2.$ Determ ine LTD$,$ Current Portion of LTD$,$ and Line of Credit, place on balance sheet What does interest expense equal in fiscal year $2028?$ End of the fiscal year $2028,$ what does long term debt equal, exclusive of the current portion of long term debt?