Suppose instead of the settlement that instead Colorado makes these concessions: Face value of note reduces to $400,000 Accured interest for 2019 is forgiven; $50,000 as shown above Maturity is extended to 1/1/22 (a one-year extension) Interest rate reduced to 5%; interest payments due 12/31/20 & 12/31/21 Question: What amount of gain does Delaware claim at the time of the Modification of Terms?

Question: Regarding the information from question 6 above, what is the impact on net income for Delware when making the second $20,000 interest expense payment?

Question: Regarding information from #6 above, what is the impact on earnings when the note of $400,000 is paid in full?

Question: Regarding again the information from question no. 6, but this time from the CREDITOR'S point of view, what is the impact (if any) on earnings on the date of the modification of terms?

Question: How much is the Note Receivable worth to Colorado at the end of the first year following the modification of terms? Again reference question no. 6 for information.