Styles Paragraph 6 5 I LAVERNE Balance Sheet (Partial) December 31, 2017 select an opening name for subsection one Current Liabilities Senter a dollar amount enter a balance sheet item Mortgage select an opening name for subsection two Long-term Liabilities enter a balance sheet item enter a dollar amount select a closing name for this section $enter a total amount for this section Total Liabilities Annual Interest Period Cash Payment Interest Expense Reduction of Principal Principal Balance B Last 'D'x 9% IC A-B |A] D Last 'D'- C S331,500 S276,109 S215,733 S149,923 $78,190 Issue date $85,226 $85,226 $85,226 $85,226 $85,226 $29,835 $24,850 $19,416 $13,493 $7,037 $55,391 $60,376 $65,810 $71,733 3 4 $78,189 S1 Laverne purchased a new piece of equipment to be used in its new facility. The $390,000 piece of equipment was purchased with a $58,500 down payment and with cash received through the issuance of a $331,500, 9 % , 5-year mortgage payable issued on January 1, 2017. The terms provide for annual installment payments of $85,226 on December 31