The following events apply to Waveland Co. for fiscal 2016 and 2017 1 Borrowed $81,000 from the local bank on April 1, 2016, when the company was started. The note had an 8 percent annual interest rate and a one-year term to maturity 2 Recognized $211,500 of revenue on account in 2016 3 Recognized $283,500 of revenue on account in 2017 4 Collected 5 Paid 6 Collected 7 Paid 8 Paid the loan and interest at the maturity date $184,500 cash from accounts receivable in 2016 $130,500 of salaries expense in 2016 $276,750 cash from accounts receivable in 2017 $155,250 of operating expenses in 2017 REQUIRED Record the above transactions in a horizontal statements model. What amount of net cash flow from operating activities would be reported on the 2016 cash a. b. c. d. e. What amount of interest expense would be reported on the 2016 income statement? What amount of total liabilities would be reported on the December 31, 2016, balance sheet? What amount of retained earnings would be reported on the December 31, 2016, balance sheet? f. What amount of cash flow from financing activities would be reported on the 2016 statement of cash flows? g. What amount of interest expense would be reported on the 2017 income statement? h. What amount of cash flows from operating activities would be reported on the 2017 caslh flow statement? i. What amount of assets would be reported on the December 31, 2017, balance sheet